The answer is true.
A hybrid form called a limited liability company (LLC) combines a partnership's tax benefits with a corporation's restricted liabilities.
LLCs are becoming more and more popular as commercial entities.
State laws apply to LLCs.
In most circumstances, LLC members are protected from personal liability, and any liability is often constrained to the amount of their contributions.
Using an LLP, professionals can escape personal responsibility for the mistakes of their fellow partners.
A partner in an LLP is still responsible for their own wrongdoing. The partner who oversaw the person who did the incorrect thing is likewise responsible.
Hence, A limited liability partnership allows professionals to avoid personal liability for the malpractice of other partners.
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