Limited Liability Partnership Gesellschaft mit beschränkter Haftung Société à responsabilité limitée 有限責任事業組合 Sociedade de Responsabilidade Limitada 有限责任合伙企业 LLP A limited liability partnership (LLP) is a partnership in which some or all partners (depending on the jurisdiction) have limited liabilities. It therefore can exhibit elements of partnerships and corporations. In a LLP, each partner is not responsible or liable for another partner's misconduct or negligence.