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of <h1>LLP as a Separate Legal Entity: Perpetual Succession and Independence from Partnership Changes Under LLP Act, 2008.</h1> A limited liability partnership (LLP) is established as a body corporate under the Limited Liability Partnership Act, 2008, and functions as a legal entity distinct from its partners. It possesses perpetual succession, meaning its existence continues irrespective of changes in its partnership. Alterations in the partnership do not impact the LLP's existence, rights, or liabilities.
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