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Ownership in llp

Inspires (Executive) (48 Points)

02 February 2012

Hello Guys, I am registering a new LLP company,

1. I want to know how ownership and power to control is defined in LLP, Is it based on the amount of contribution made by the partners.

2.Do we have any Shareholding system type in LLP like PVT Ltd.

3. If Suppose Other Partner contribute more but dont want to involve in management of LLP than how the ownership and power is applicable in the case.

4. What to do if i want to keep my company ownership with me, even if any partners added or contributes more, but i dont want to loose my ownership of the company?

Thanks in Advance :)

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4 Replies

igkalees (am) (25 Points)
Replied 05 February 2012

Dear Sir,

Since the LLP rules and Acts are not yet cleared its better to open Pvt. Ltd. instead of LLP. LLP its a hybrid and its in infant stage.

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indraneel karumanchi (student) (49 Points)
Replied 05 February 2012

The only difference between L.L.P and ordinary partnership is liability of the members.In an L.L.P the partners will lose only the amount of their contribution they have made were as in an ordinary partnership private liability of the members arises . Sir u can share the ownership in the ratio u like nd share the profits in the ratio u like i.e as per the mutual agreement of the members.

Inspires (Executive) (48 Points)
Replied 05 February 2012

Originally posted by : indraneel karumanchi
	The only difference between L.L.P and ordinary partnership is liability of the members.In an L.L.P the partners will lose only the amount of their contribution they have made were as in an ordinary partnership private liability of the members arises . Sir u can share the ownership in the ratio u like nd share the profits in the ratio u like i.e as per the mutual agreement of the members.

I this is true,, as we are able to come to mutual understanding of ownership ratio and profit loss ratio in LLP agreement than am ok with LLP

indraneel karumanchi (student) (49 Points)
Replied 05 February 2012

Originally posted by : Inspires
	Originally posted by : indraneel karumanchi The only difference between L.L.P and ordinary partnership is liability of the members.In an L.L.P the partners will lose only the amount of their contribution they have made were as in an ordinary partnership private liability of the members arises . Sir u can share the ownership in the ratio u like nd share the profits in the ratio u like i.e as per the mutual agreement of the members. I this is true,, as we are able to come to mutual understanding of ownership ratio and profit loss ratio in LLP agreement than am ok with LLP