Partnership FirmLimited Liability Partnership (LLP)
Partnership Firms are registered under the Partnership Act 1992LLP is registered under the Limited Liability Act 2008 Ministry of Corporate Affairs. (ROC)
Partnership Firms do not have Separate Legal Entity StatusLLP  has Separate Legal Entity status
No Limited Liability featureLimited Liability feature available
Foreign Direct investment not allowedForeign Direct Investment Allowed with approvals from RBI
No Perpetual ExistencePerpetual Existence
Not TransferableTransferable by transferring shares
Annual  compliance  filing not requiredAnnual ROC compliance required to be done.
No Corporate IdentityCorporate Identity
Partnership Firm name can be used by any other entity in same businessLLP name reserved by MCA, not given to any other entity in the same business again.
The name does not end with the format of registration.Name ends with LLP.   Example: XYZ  IT Solutions LLP, Raheja Developers LLP.

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