A partnership is an arrangement in which two or more people agree to cooperate in order to achieve a common goal. The partnership company is governed by the Indian Partnership Act, 1932. The act defines a partnership as "an agreement between two or more persons to carry on a business in common with a view to profit".
A partnership company must have at least two partners, and there is no maximum limit on the number of partners. The partners must be registered with the Registrar of Companies (ROC). The partnership company must also have a registered office in India.
The main advantage of a partnership company is that it allows for the pooling of resources and expertise. Partners can also share the risks and rewards of business ownership. Another advantage is that it is relatively easy to set up and dissolve a partnership company.
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When two or more people come together and pool funds to start a business, it's known as a partnership firm. The primary aim of partnership firms is to earn profit. Partnership firms in the country are bound by the laws defined under the Indian Partnership Act, 1932 |
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A partnership is an arrangement in which two or more people agree to cooperate in order to achieve a common goal. The partnership company is governed by the Indian Partnership Act, 1932. The act defines a partnership as "an agreement between two or more persons to carry on a business in common with a view to profit".
A partnership company must have at least two partners, and there is no maximum limit on the number of partners. The partners must be registered with the Registrar of Companies (ROC). The partnership company must also have a registered office in India.
The main advantage of a partnership company is that it allows for the pooling of resources and expertise. Partners can also share the risks and rewards of business ownership. Another advantage is that it is relatively easy to set up and dissolve a partnership company.
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When two or more people come together and pool funds to start a business, it's known as a partnership firm. The primary aim of partnership firms is to earn profit. Partnership firms in the country are bound by the laws defined under the Indian Partnership Act, 1932 |
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