Butterby Llp

Other Businesses near Butterby Llp  Low Butterby, Croxdale, Durham, County Durham, DH6 5JH

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Information about words in this company name or address

llp

A limited liability partnership is a partnership in which some or all partners have limited liability. It therefore exhibits elements of partnerships and corporations. In an LLP one partner is not responsible or liable for another partner''s misconduct or negligence. This is an important difference from that of a limited partnership. In an LLP, some partners have a form of limited liability similar to that of the shareholders of a corporation. In some countries, an LLP must also have at least one "general partner" with unlimited liability. Unlike corporate shareholders, the partners have the right to manage the business directly. As opposed to that, corporate shareholders have to elect a board of directors under the laws of various state charters. The board organizes itself and hires corporate officers who then have as "corporate" individuals the legal responsibility to manage the corporation in the corporation''s best interest. An LLP also contains a different level of tax liability from that of a corporation.

Limited liability partnerships are distinct from limited partnerships in some countries, which may allow all LLP partners to have limited liability, while a limited partnership may require at least one unlimited partner and allow others to assume the role of a passive and limited liability investor. As a result, in these countries the LLP is more suited for businesses where all investors wish to take an active role in management.

county durham

County Durham is a ceremonial county and unitary district in North East England. The county town is Durham. The largest settlement in the ceremonial county is the town of Darlington. The county has an industrial heritage and its economy was historically based on coal and iron mining. It is an area of regeneration and promoted as a tourist destination.

The ceremonial county borders Tyne and Wear, North Yorkshire, Cumbria and Northumberland and forms part of the North East England region.
The ceremonial county of Durham is administered by four unitary authorities. The ceremonial county has no administrative function, but remains the area to which a Lord-Lieutenant and High Sheriff are appointed.

County Durham . The unitary district was formed on 1 April 2009 replacing the previous two-tier system of a county council providing strategic services and seven district councils providing more local facilities.