1)Limited Liability: The primary advantage of an LLP is that the partners have limited liability, which means their personal assets are protected in case of business debts or liabilities.
2) Separate Legal Entity: An LLP is considered a separate legal entity, which means it can own assets, enter into contracts, and sue or be sued in its name.
3)Ease of Formation: LLP registration is relatively easy and cost-effective compared to a private limited company.
4)No Minimum Capital Requirement: There is no minimum capital requirement for LLP registration.
5)Flexibility: LLPs offer flexibility in management and operations, and partners can decide how to share profits and manage the business.