Limited Liability Partnership (LLP) is an easy to maintain business structure compared to Proprietorship. The main advantage of converting from proprietorship to LLP is that the proprietor will get partners to share the responsibilities and financials hence helps the business to reach new milestones. A LLP structure of business associates the benefits of both of the Partnership and Company. Conversion from Proprietorship to LLP will be a wise decision. As per LLP act, 2008 – one partner is not responsible or liable for another partner’s misconduct or negligence. Being an entity with separate legal existence, personal assets of partners of LLP are protected from debts of the firm to the extent of the capital share subscribed. With all these reasons, LLP is the most preferred business structure by professionals, Micro and Small businesses that are family owned or closely-held.