Easily Register a Partnership

Partnership could be registered or unregistered. Partnerships are ideal for small business in the unorganised sector having multiple promoters.

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Reasons to Register a Partnership


A Partnership Firm is a favorite kind of business constitution for businesses which can be owned, managed and controlled by an Association of People for profit. Partnership firms are not too difficult to begin are is prevalent amongst small and medium-sized businesses in the unorganized sectors. With the introduction of Limited Liability Partnerships in India, Partnership Firms are fast losing their prevalence because of the added advantages provided by a Limited Liability Partnership.

You can find two kinds of Partnership firms, registered and un-registered Partnership firm. {It is not compulsory to join up a Partnership firm; however, it's advisable to join up a Partnership firm because of the added advantages. Partnership firms are made by drafting a Partnership deed between the Partners and JBB CORPORATE CONSULTANCY PVT LTD will help take up a registered or un-registered Partnership firm in India.

Reasons to Register a Private Limited Company

Bussiness Name

Considering that the name of a Partnership firm isn't registered, a Partnership firm can decide to own any name - provided that it doesn't infringe on a registered trademark. However, considering that the name isn't registered, some other person also can utilize the same business name unless trademark registration is obtained.

Partnership Deed

In a Partnership firm, the partnership deed will determine the ownership of the firm, profit sharing ratio, rights and responsibilities of the entire Partner. A partnership deed may be registered with the Registrar.

Annual Filing NOT Required

A Partnership firm isn’t needed to file its annual accounts with the Registrar annually unlike a Limited Liability Partnership or Company. Limited Liability Partnership's and Companies are expected to file their annual accounts with Registrar of Companies each year.

Bank Account

Bank-account may be opened in the name of a Partnership firm. To open bank-account, the partnership deed copy and KYC documents of the Partner should be submitted alongside some other document as required by the Bank.

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Easy to Start

A Partnership is straightforward to form as no cumbersome legal formalities are involved. Its registration can be not essential. However, if the firm is notregistered, it will soon be deprived of certain legal benefits. The Registrar of Firms is in charge of registering partnership firms.