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Contat info@companiesinn.com
(Pioneers of online incorporation in India)
©CompaniesInn.com
LLP
Monday, October 3, 2011
Company Registration
Concept of Limited Liability
The concept
of Limited Liability is often misunderstood in the corporate world as no
responsibility.
A Company or Limited Liability Partnership (LLP) is an incorporated entity having separate legal identity in the eyes of law. The Shareholders and Partners are the owners of the organisation. The Director or Designated Partner is a representative of the legal entity appointed by the owners to have a human interface with the regulators and all other stakeholders.
Usually in small Company, a shareholder becomes Director and in LLP, a Partner becomes designated partner. In their capacity as owners and representatives, they are different roles to play.
Limited liability means that the personal financial liability of a shareholder or a partner is limited to the extent of a fixed amount that he has agreed to invest in a company or a limited liability partnership. In other words, the investor is not personally liable for the business debts and liabilities of the organisation. In the unfortunate event of winding up of the incorporated business, their financial liability is limited to the unpaid amount of agreed contribution by shares or otherwise. On the contrary, the liability of sole proprietors and partners in general partnership are unlimited and even their personal assets are exposed to pay off the business debts and other business liabilities.
The Directors of the company are the persons liable to run the day to day business of Company and are liable to comply with various legal requirements. In case of LLP, Designated Partner is responsible for the legal compliances. In case of default to comply with any legal requirements they are personally responsible for the same. In their role as a Director or Designated partners, the liability is unlimited and are exposed to penal provisions under the law for the noncompliance of respective regulations.
A Company or Limited Liability Partnership (LLP) is an incorporated entity having separate legal identity in the eyes of law. The Shareholders and Partners are the owners of the organisation. The Director or Designated Partner is a representative of the legal entity appointed by the owners to have a human interface with the regulators and all other stakeholders.
Usually in small Company, a shareholder becomes Director and in LLP, a Partner becomes designated partner. In their capacity as owners and representatives, they are different roles to play.
Limited liability means that the personal financial liability of a shareholder or a partner is limited to the extent of a fixed amount that he has agreed to invest in a company or a limited liability partnership. In other words, the investor is not personally liable for the business debts and liabilities of the organisation. In the unfortunate event of winding up of the incorporated business, their financial liability is limited to the unpaid amount of agreed contribution by shares or otherwise. On the contrary, the liability of sole proprietors and partners in general partnership are unlimited and even their personal assets are exposed to pay off the business debts and other business liabilities.
The Directors of the company are the persons liable to run the day to day business of Company and are liable to comply with various legal requirements. In case of LLP, Designated Partner is responsible for the legal compliances. In case of default to comply with any legal requirements they are personally responsible for the same. In their role as a Director or Designated partners, the liability is unlimited and are exposed to penal provisions under the law for the noncompliance of respective regulations.
Contat info@companiesinn.com
(Pioneers of online incorporation in India)
©CompaniesInn.com
LLP
About Companiesinn.com LLP - www.companiesinn.com
About Companiesinn.com LLP - www.companiesinn.com
www.CompaniesInn.com
provides business incorporation and start- up services across India. We help in Company registration, LLP Registration
and other registration required for starting a business anywhere in India. We also provide Accounting, Taxation and
Corporate and Legal Compliance related services.
Our Vision:
Simplify Incorporation, Legal,
Accounting and Taxation Services.
Our Mission:
Provide cost-effective, transparent and time bound
services to our customers
·
Simple process
Our registration services
are simple; anyone can register a company or LLP by placing an order in our
website.
·
Cost effective
CompaniesInn.com is
promoted with objectives delivering cost effective incorporation and business
start- up services to new business. Our setup cost is around 40% below
the market rate
·
No hidden cost
We believe in transparent
and all inclusive pricing without any hidden cost.
·
Fast delivery
With the help of professional team we deliver services
at shortest possible time
CompaniesInn Highlights
Ø IncorporationKiosk
in major cities in India
Ø Registered the First Limited Liability
Partnership (LLP)
Ø Helped more than 2500 entrepreneurs
to get their Company / LLP registered in India from across the Globe.
Contat: info@companiesinn.com
(Pioneers of online
incorporation in India)
©CompaniesInn.com
LLP
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