On the Limited Liability Partnership

Abstract

Limited liability partnership system is first produced in the United States,which provides institutional guarantee for partners' unlimited joint and several liability.Under the influence of the United States,Limited liability partnership system is developed and improved in the legislation in England,America and France,etc.And its scope of application extends to all kinds of business gradually.Compared with the limited partnership and the limited liability company,the limited liability partnership is better to protect the interests of the members.The Partnership law doesn't work out the limited liability partnership system,but the special general partnership system.Although this can meet the needs of the professional service organizations to some extend,there still exists some defects.