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Registration of your Partnership Company
Partnership Firm is an association of two or more persons agreed to share the profits of a business carried by every partner or any one of the partners. The members are individually termed as partners collectively called as firm. The main types of partners are active partner, sleeping partner and nominal partners.
Advantages on Registration of Partnership Firm
Registration of partnership firms gives you the legal right, the firm cannot file legal proceedings against any partners or third parties if it is unregistered. Registration gives a right to sue.
Sharing of Risks
Unlike sole proprietary firms, the risk of the partners will be shared among the partners. It helps to reduce the burden of work.
The formation of a partnership firm is easy to start. The agreement among the partners is enough to initiate your firm. This helps to increase young entrepreneurs for the development of their business and startup ideas.
Sharing Financial Resources and Skills
Partnership Firm has more financial resources by sharing the money among the partners. It also helps in bringing different kinds of ideas together which leads to efficiency in business operations
Documents required for Registration of Partnership Company