What is the difference between LLP Act, 2008 and Partnership Act, 1932?
📘 LLP Registration – Simple Guide (India)
April 1, 2026The Limited Liability Partnership Act, 2008 and the Indian Partnership Act, 1932 differ mainly in structure, liability, and legal status.
🔑 Key Differences:
- Legal Status
LLP is a separate legal entity; partnership is not. - Liability
LLP → Limited liability
Partnership → Unlimited liability - Registration
LLP → Mandatory
Partnership → Optional - Continuity
LLP → Perpetual succession
Partnership → Can dissolve on partner exit - Ownership
LLP owns assets
Partnership assets belong to partners
👉 Conclusion: LLP is more secure and modern compared to traditional partnership.
