In India, the concept of Limited Liability Partnership was introduced in 2008 by the LLP Act, 2008. In India, LLP has become the most preferred form of business among entrepreneurs. Registering an LLP in India has both the limited liability features of a Private Company and the flexibility of a Partnership Firm. No partner is answerable on account of unauthorized or illegal actions of other partners, thus individual partners are protected from joint liability created by another partner’s wrongdoing.