Service overview
Partnership Incorporation Registration
When two or more people come together to start a business and share its profit and loss is known as Partnership Firm. The Indian Partnership Act, 1932, governs a partnership firm in India. The partnership agreement can be for a specific task or a job. It can be for a specified period or a general partnership agreement that exists until it is dissolved.
A partnership firm registration in India can be both registered or unregistered as a firm under the Partnership Act. However, an unregistered partnership firm cannot sue anyone as it does not have any Identity.
Starting a partnership firm in India is a simple process and requires a list of compliance amongst all the other forms of organizations. But, unlike other companies or LLP , a partner in a partnership firm in India carries an unlimited liability towards the creditors and debt of their partnership firm. All partners in a partnership firm are jointly held liable for debts and losses incurred by the firm. They also have a principal and agent relationship between all the partners.
