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To build confidence, trust, reliance and loyalty for consumers and business owners alike by creating a dedicated gTLD to specifically serve the Community of Registered Limited Liability Partnerships. Through our registry service, we will foster consumer peace of mind with confidence by ensuring that all domains bearing our gTLD string are members of the Community of Registered Limited Liability Partnerships. Our verification process will create an unprecedented level of security for online consumers by authenticating each of our registrant’s right to conduct business in the United States. The “.LLP” gTLD will fill a unique void in the current DNS and assist in decreasing the burden on existing domain names by identifying members of the Community of Registered Limited Liability Partnerships
DOT Registry plans to serve the Community of Registered Limited Liability Partnerships. Members of the community are defined as businesses registered as Limited Liability Partnerships with the United States or its territories. Limited Liability Partnerships or (LLP’s) as they are commonly abbreviated, are specifically designed to represent professional service businesses in the US . Limited Liability Partnerships are commonly adopted by businesses which focus on: accounting, attorneys, architects, dentists, doctors and other fields treated as professionals under each state’s law.
Limited Liability Partnerships (LLP) are a relatively new business structure for the United States. LLP’s were first recognized in the state of Texas in the 1980’s to offer increased protections to individual partners of businesses and combat potential business losses due to mal-practice claims. In 1996 the National Conference of Commissioners on Uniform State Laws adopted the Revised Uniform Partnership Act; providing for both the definition of an LLP and the governmental standards under which an LLP may be formed. It was through the Revised Uniform Partnership Act that a standard set of policies were created to define, validate, and monitor the operations of LLP’s, thus creating a unique and accountable business community in the United States.
A Limited Liability Partnership is defined as a partnership in which some or all partners (depending on jurisdiction) have limited liability. LLP’s therefore exhibit qualities of both partnerships and corporations. In an LLP, one partner is not responsible or liable for another partner’s misconduct or negligence. This distinction is why the LLP is a popular business entity amongst accountants, doctors, and lawyers; which deal heavily with issues that could inspire mal-practice lawsuits.
Common advantages to forming an LLC include:
1) Pass through income taxation to partners, which avoids the “double taxation” often associated with corporations.
2) Limited Liability to individual members. This feature protects individual partners from being responsible for another partners’ misconduct or negligence.
3) Unlike a corporation shareholders can actively participate in managing the business.
LLP’s represent a small but prestigious sector of business in the United States. DOT Registry believes that due to the specifically personal nature of business operations conducted by LLP’s it is essential for consumers to be able to appropriately identify legitimate LLP’s prior to using their services. Through the creation of DOT Registry’s .LLP string, consumers can quickly validate that they are working with a member of the Community of Registered Limited Liability Partnerships, providing consumers with brand reassurance and peace of mind. DOT Registry believes that it is essential to identify Limited Liability Partnerships online in order to expand on their creditability and further highlight their privilege to conduct business in the US. Proper representation of this community would allow consumers to make educated choices in choosing businesses to patronize and support.
Limited Liability Partnerships can be formed through all but ten states in the United States. Therefore members of this community exist in close to forty US states. LLP formation guidelines are dictated by state law and can vary based on each state’s regulations. Persons form an LLP by filing required documents with the appropriate state authority, usually the Secretary of State. Most states require the filing of Articles of Organization. These are considered public documents and are similar to articles of incorporation, which establish a corporation as a legal entity. At minimum, the articles of organization give a brief description of the intended business purposes, the registered agent, and registered business address. Additionally, many states restrict LLP registrations to professional service companies, making the LLP specifically applicable to industries such as architects, accountants, lawyers, and doctors.
LLP’s are expected to conduct business in conjunction with the policies of the state in which they are formed, and the Secretary of State periodically evaluates a LLP’s level of good standing based on their commercial interactions with both the state and consumers. DOT Registry or its designated agents would verify membership to the Community of Registered Limited Liability Partnerships by collecting data on each Registrant and cross-referencing the information with their applicable registration state. In order to maintain the reputation of the “.LLP” string and accurately delineate the member to consumers, Registrants would only be awarded a domain that accurately represents their registered legal business name. Additionally, DOT Registry will not allow private or proxy registrations, therefore DOT Registry’s WHOIS service will tie directly back to each member’s state registration information and will be publicly available in order to provide complete transparency for consumers.
Entities are required to comply with formation practices in order to receive the right to conduct business in the US. Once formed an LLP must be properly maintained. LLP’s are expected to comply with state regulations, submit annual filings, and pay specific taxes and fees. Should a Limited Liability Partnership fail to comply with state statutes it could result in involuntary dissolution by the state in addition to imposed penalties, taxes and fees.
While state statutes vary, the majority of states have adopted the following guidelines in regards to the formation of LLP’s:
(1) The name of each Limited Liability Partnership must contain the words ʺLimited Liability Partnershipʺ or the abbreviation ʺL.L.Pʺ or the designation ʺLLPʺ.
(2) In order to form a Limited Liability Partnership, two or more authorized persons must execute the Articles of Organization. Which shall contain: the name of the Limited Liability Partnership; the address of the registered office and the name and address of the registered agent for service of process required to be maintained; and any other matters the members determine to include therein.
(3) A Limited Liability Partnership may be organized to conduct or promote any lawful business or purposes, except as may otherwise be provided by the Constitution or other law of this State.
All entities bearing the abbreviation LLP in their business name create the assumption that they have been awarded the privileges associated to that title such as: the ability to conduct commerce transactions within US borders or territories, the ability to market products, solicit consumers and provide reputable services in exchange for monetary values, and finally to provide jobs or employment incentives to other citizens.
Membership in the Community of Registered Limited Liability Partnerships is established through your business entity registration. In order to maintain your membership to this community you must remain an “Active” member of the community. Active” in this context can be defined as any LLP registered with a Secretary of State in the United States and its territories, that is determined to be authorized to conduct business within that State at the time of their registration. Registrant’s “Active” status will be verified on an annual basis as described above in question 18 in order to ensure the reputation and validity of the “.LLP” gTLD.
Since LLP’s are not currently delineated on the Internet, the creation of this string would mark a unique advancement in consumer security and confidence in the United States. Essentially, this will create the first ever, clear delineator for the Community of Registered Limited Liability Partnerships.
DOT Registry has thoroughly reviewed ISO 3166-1 and ISO 3166-2, relevant UN documents on the standardization of geographic names, GAC correspondence relating to the reservation of geographic names in the .INFO TLD, and understands its obligations under Specification 5 of the draft Registry Agreement. DOT Registry shall implement measures similar to those used to protect geographic names in the .INFO TLD by reserving and registering to itself all the geographic place names found in ISO-3166 and official country names as specified by the UN. DOT Registry has already discussed this proposed measure of protecting geographic names with its registry services provider, Neustar, and has arranged for such reservation to occur as soon after delegation as is technically possible.
As with the .INFO TLD, only if a potential second-level domain registrant makes a proper showing of governmental support for country or territorial names will DOT Registry then relay this request to ICANN. At this point, DOT Registry would wait for the approval of the GAC and of ICANN before proceeding to delegate the domain at issue.