There are various business organizations in order to meet the challenges of the changing times and economy. It started with the ownership by the individual to limited companies. The need of the hour was a miscegenation of a business entity combining the good aspects of General Partnership and Limited Company to take care of the growing needs of professionals, service providers and small and medium business. This paper throws light on the need to have this form of business organisation and analyze if the LLP module in India is successful or not. The paper also covers briefly the LLP Module in countries such as Canada, Kazakhstan, Panama, New Zealand, Japan, Singapore, Hong Kong etc. and also in countries like Mauritius, Pakistan and Dubai where it has been recently introduced.
Keywords: LLP, General Partnership, Limited Company, Professionals, Economy
