1. PARTNERSHIP FIRM ( NAME):-
Ultimately, Any Name can be suggested to the firm as long as you fulfill the basic conditions.
- The given name shouldn't be same or identical at the same time /firm
- The name should not contain empire etc words that conflicts about the future.
2. HOW SHOULD BE THE AGREEMENT BETWEEN THE PARTNERS FORMED:-
It is an agreement between the partnership in which their duties,rules of each director is mentioned. for this reason, It is done by two methods either orally or by written method but its is better to make agreement in written form only so as to not get any comflicts accordingly,
Following detailS required in a partnership deed:-
1. Name & address of all the partners and firms 2. Nature of business 3. Incorporation
date & Capital that contributed by each partner 4. Capital that has to contribute by each partner 5. Profit/loss sharing ratio among the partners
3. IS IT NECESSARY TO REGISTER PARTNERSHIP FIRM:-
Provided that, the Registration has to done at any time. It is always advisable to register the firm. itis a necessry tool for the people who is going to start up the business. Registration for partnership is to have an optional at discretion of partners.
4.HOW TO REGISTER PARTNERSHIP FIRM:-
Further, An application has to submit to the existing clients of their state. This application has to signed by their agents. or all the partners.