What is a Partnership Firm?
A Partnership Firm is a business structure where two or more individuals manage and operate a business in accordance with the terms and objectives set out in a Partnership Deed. It's one of the most common business structures in India due to its ease of formation.
Two or More Partners
A business entity formed by two or more people who agree to share profits and losses.
Partnership Deed
The rights, duties, and profit/loss sharing ratios are governed by a legal agreement called a Partnership Deed.
Ease of Formation
Simple to start with minimal regulatory compliance compared to other business structures.
Choose Your Partnership Package
Select the package that best fits your partnership requirements
Registration Procedure
While registration is not mandatory, it is highly recommended to avail legal benefits. Our process is simple and straightforward.
Drafting Deed
We draft a comprehensive Partnership Deed based on your requirements, covering all essential clauses.
Stamp & Sign
The deed is printed on stamp paper and signed by all partners in the presence of witnesses.
Filing with RoF
We file the application and signed deed with the Registrar of Firms to get your Certificate of Registration.
Documents for Partnership Firm
Keep these documents ready for a smooth registration process.
- PAN Card of all partners.
- Identity Proof: Aadhaar Card, Driving License, or Voter ID.
- Latest Address Proof: Utility bill or bank statement.
- Certified true copy of the Partnership Deed.
- Proof of principal place of business (Sale deed or rental agreement).
- Latest utility bill for the office address.
Partnership FAQs
Find answers to common questions about Partnership Firms.
Is it mandatory to register a Partnership Firm?
No, it is not mandatory. However, an unregistered firm cannot sue a third party, and partners cannot sue the firm or other partners. Therefore, registration is highly recommended.
What is the minimum and maximum number of partners?
A partnership must have a minimum of two partners. The maximum number of partners is 50 for general business, as per the Companies (Miscellaneous) Rules, 2014.
What is a Partnership Deed?
A Partnership Deed is a written agreement among the partners that outlines the terms and conditions of the partnership, including profit/loss sharing, roles, and responsibilities.
Do partners have unlimited liability?
Yes, in a general partnership, partners have unlimited liability, meaning their personal assets can be used to pay off the firm's debts.