![]() in order to bring clarity to the partners.Ī deed of partnership also known as a partnership agreement is a legal document signed by two or more partners who come together and decide to run a business for profit. The partnership deed contains various terms such as profit/loss sharing, salary, interest on capital, drawings, admission of a new partner, etc. The partnership deed serves this purpose. The smooth and successful running of a partnership firm requires a clear understanding among its partners regarding the various policies governing their partnership. A partnership deed is an agreement between the partners of a firm that outlines the terms and conditions of partnership among the partners. Partners establish a partnership firm through a partnership deed. A minimum of 2 partners are required to start a partnership firm. A partnership firm is one of the popular types of organisations for starting a new business in India.
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