Partnerships present the involved parties with special challenges that must be navigated unto agreement. Overarching goals, levels of give-and-take, areas of responsibility,
lines of authority and succession, how success is evaluated and distributed, and often a variety of other factors must business-network-and-membershipall be negotiated. Once agreement is reached,
the partnership is typically enforceable by civil law, especially if well documented. Partners who wish to make their agreement affirmatively explicit and enforceable typically draw up Articles of Partnership.
Partnership firm is required to be registered under sections 58 and 59 of the Partnership Act, though it is not compulsory. Although registration of firm is not obligatory but partners usually go for registration because consequences of non registration are very severe and injurious to their interest.
We are engaged in drafting partnership deed as per client’s requirement and making registration of the partnership firm with the Registrar of Firms. We are also engaged in the work of admission of partner, retirement of partner and dissolution of partnership firm. |
