Question

a report on procedure of winding up partnership firm suggestion

Answer 1

Partnership agreementsEdit

Although not required by law, partners may benefit from a partnership agreement that defines the important terms of the relationship between them.[5] Partnership agreements can be formed in the following areas:

Business: two or more companies join forces in a joint venture[6] or a consortium to i) work on a project (e.g. industrial or research project) which would be too heavy or too risky for a single entity, ii) join forces to have a stronger position on the market, iii) comply with specific regulation (e.g. in some emerging countries, foreigners can only invest in the form of partnerships with local entrepreneurs.[7] In this case, the alliance may be structured in a process comparable to a Mergers & Acquisitionstransaction.