A LLP is a corporate business vehicle that enables professional expertise and entrepreneurial initiative to combine and operate in flexible, innovative and efficient manner, providing benefits of limited liability while allowing its members the flexibility for organizing their internal structure as a partnership. Just like a company a LLP offers separate legal entity, limited liability of partners and perpetual succession etc. But Unlike a Company has less compliances. The working of a LLP is governed by the terms and conditions mentioned in the LLP Agreement. A LLP Agreement can be amended from time to time as per the desire of the Designated Partners without any hassles.