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  1. Earlier, when two or more than two people want to start a business, they have two options: either they can form a Partnership firm or set up a Pvt Ltd. company. Both these modes of starting a business have their advantages and dis-advantage.
    Limited Liability Partnership enjoys the flexibility of a sole proprietor firm and the benefits of a Pvt. Ltd. company. LLP companies are governed by the LLP Act 2008.

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