Partnership Registration

A Partnership Firm is a popular and approved form of business constitution for businesses that are owned, administered and superintended by an Association of People for Profit. Partnership firms are ideally easy to start and it is prevalent amongst all small and medium sized businesses in the unorganized sectors. In Layman words, Partnership is a business structure in which two or more individuals administrate and function a business in accordance with the terms and goals set put in the partnership Deeds.

With the coming of Limited Liability Partnership in India, Partnership Firms are swiftly losing their relevancy owing to the added advantages furnished by the Limited Liability Partnership. There exists two types of Partnership firms, registered and unregistered Partnership Firm. However it is not mandatory to register a Partnership Firm, yet it is advisable to register a Partnership firm as for its added advantage. Partnership firms are cornerstone by drafting a Partnership deed amongst the partners.

For a partnership Registration, one must consent on a firm name and then establish a partnership deed. It is a document that states respective rights and obligations of the partners and to be valid it should be written and not in oral communication. The terms of the Partnership deed can be variegated to befit the interest of the partners and can even be made as opposed to the Indian Partnership Act, 1932 yet if the Partnership Deed is silent on any point then the provisions of the Act would apply.

Our Package Includes: