Incorporating a Business
Partnership is a very convenient way of doing business. When two or more people - friends, relatives, colleagues or siblings or any person for that matter, join together and act as co-owners of the business, while sharing profit and loss mutually or at the agreed ratio, a partnership firm is formed. In India, such Partnership firms are governed by the Indian Partnership Act, 1932. Though it is not mandatory to register a partnership firm, it is always advisable to register as an unregistered firm cannot file a suit in any court enforcing a right arising from a contract, creditor or third-party vendor or even a partner of the firm cannot file a case against the form or other partners.
Hence, when you intend to start a partnership firm, it is in good business sense that you register the firm, draft your partnership deed and get it registered while also putting everything pertaining to the establishment like the details of ownership, rights and responsibilities etc down on paper to avoid future disagreements and misunderstandings.
How to go about the registration procedure? We can be of help. Our experts help you:
- Choose a Name (The name of the firm should not "contain any words which may express or imply the approval or patronage of the government except where the government has given its written consent for the use of such words as part of the firm's name".)
- Collect and prepare documents required for registration
- Drafting partnership Deed
- Fill in the Application Form duly
- Register it with the concerned Authorities
- Collect and handover of the Certificate of Registration.