Limited Liability Partnerships or LLPs have an upper hand over the partnership firms and become beneficial for the partners who get into the LLP structure. One needs to know that, LLP is a separate legal entity and involves a mandatory registration process with the central government, which is not in the case of partnership companies.
The conversion from partnership firm to LLP indeed becomes a good decision taken by its memes when it comes to executing the business strategy which secures the partner’s rights and limits their liabilities.