Partnership Firm Registration
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Product Code: 0125
Partnership form of business is an easy and simple way to get into the business and it is an easy way for a good start-up. As compare to Sole Proprietorship, a partnership is a better form of business.
As per section 4 of the partnership act 1932, the partnership is the relationship between persons who have shared the profits of a business carried on by all or any of them acting for all. The one who has entered into a partnership with another are called individually, "partners" and collectively "a firm", and the name under which their business is carried on is called the "firm-name"
The partnership consists of three essential elements mentioned below:
a. There must be an agreement between proposed partners
b. An agreement must be built to share the profits obtained from business
c. Business must be run by all or any of them representing all.
Partnership form of business is an easy and simple way to get into the business and it is an easy way for a good start-up. As compare to Sole Proprietorship, a partnership is a better form of business.
As per section 4 of the partnership act 1932, the partnership is the relationship between persons who have shared the profits of a business carried on by all or any of them acting for all. The one who has entered into a partnership with another are called individually, "partners" and collectively "a firm", and the name under which their business is carried on is called the "firm-name"
The partnership consists of three essential elements mentioned below:
a. There must be an agreement between proposed partners
b. An agreement must be built to share the profits obtained from business
c. Business must be run by all or any of them representing all.
