PARTNERSHIP FIRM REGISTRATION
A Partnership is one of the most important forms of a business organization, where two or more people come together to form a business and divide the profits thereof in an agreed ratio. A Partnership is easy to form, and the compliance is minimal as compared to companies.
1. Name given to the Partnership firm
Any name can be given to a partnership firm as long as you fulfill the below-mentioned conditions:
The name shouldn’t be too similar or identical to an existing firm doing the same business,
The name shouldn’t contain words like emperor, crown, empress, empire or any other words which show sanction or approval of the government.
2. How should be the agreement between partners formed?
Partnership deed is an agreement between the partners in which rights, duties, profits shares and other obligations of each partner is mentioned.
Partnership deed can be written or oral, although it is always advisable to write a partnership deed to avoid any conflicts in the future.