Company name is attached to the founding partner , has major control and authority

LLP is more attractive for investors - less risk , can buy limited partnership shares

What is different ?

1. Individual partners can still act by themselves , but only in certain decisions. Whereas in general partnership , they have full freedom over everything , except transfer of shares.
2. Limited partners have fewer liabilities than the founding partner
3. Decisions made by one partner , if lead to a negative outcome , doesn’t make the other partners accountable
4. Liability to employee’s actions are also limited to your direct authority - you are not held responsible for the actions of the employees who are in the departments headed by other partners
5. This type of arrangement is a little risky for the founding partner , but attractive for the investing / limited partner
6. The founding partner becomes solely responsible for alleviating the partner’s burden in case of debts and lawsuits

Good for investors , bad for founding partner , but retains control .