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Definition
An LLP is a body corporate whose members are not usually personally liable for the LLP's debts beyond their investment, unlike a general partnership. It offers limited-liability protection with partnership-style flexibility.
In plain terms
It is a halfway house: you run it like a partnership, but your personal assets are largely protected as they would be in a limited company.
Why it matters for your company
Structure affects borrowing and liability. An LLP or limited company protects members better than a general partnership. Note Credicorp lends to UK limited companies.
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Contingent liability
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Joint and several liability
Joint and several liability means each party can be pursued for the entire debt, not just their share — so a…
Read →Funding for UK limited companies
Credicorp lends to your company, not to you personally — short-term working capital with no personal guarantee. See what your business could access.