Which of the following forms of organization is most likely to protect the personal assets of any partner or shareholder who has not been involved on an engagement resulting in litigation?

Question

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A limited liability partnership (LLP) is a type of partnership where each partner has limited liability, meaning that they are not personally responsible for the actions or debts of other partners. This means that if a partner was not involved in an engagement resulting in litigation, their personal assets would be protected from any resulting legal action. Other options, such as a partnership or Subchapter M corporation, do not offer the same level of personal asset protection. A professional corporation may provide some protection for individual shareholders, but may not protect a partner who was not involved in the engagement resulting in litigation.

Which of the Following Forms of Organization Is Most Likely