Get Partnership Registration (INR 2,999 /-)
Partnership, as the name suggests, is defined as a relation between two or more persons coming together for a common objective. Similarly, when the objective is to run a company and earn profit it’s termed as the Partnership firm. It is one of the most popular forms of the business constitution for businesses that are managed, owned and controlled by an Association of People for profit. It is comparatively easier to start and prevalent amongst startups, SMEs and often businesses in the unorganized sectors. With the introduction of LLP or Limited Liability Partnerships in India, Partnership Firms are on the downhill as LLP has a competitive edge over the traditional Partnership Firms structure.
These firms are governed by the Indian Partnership Act, 1932. Registration of partnership firm is optional and at the discretion of the partners. Registration of partnership firm may be done before starting a business or anytime during the continuation of partnership.
It is always advisable to register the firm since registered firms enjoy special rights which aren’t available to the unregistered firms. In order to register the firm An application form along with fees is to be submitted to Registrar of Firms of the State in which firm is situated. The application has to be signed by all partners or their agents.
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