As a Limited Liability Partnership (LLP) is a stand out legal entity, which can enter into contractual relationships in its own capacity since it offers a great advantage to its partners for limiting their personal risk. Liability of financial contribution of any partner is restricted to the capital contribution as per the LLP agreement. Lot of new age companies prefers to go with LLP registration over partnership so that their personal assets remain safe in case of loss or even insolvency. More over one partner doesn’t require taking the entire responsibility for the actions of negligence or misconduct of any other partners.