assume you are starting a partenship firm with your friends .develop a business plan covering the followingaspects:formation of this partnership firm - rules and steps that would be followed including the partnership deed
Answers
Partnership firm is the type of business which enables two parties come together to start a business and the profits from it is equally shared between each other.
Explanation:
Select suitable name for the partnership for the partnership firm. The only evidence for the commencement of the partnership business is to finalize and execute the partnership deed which is an agreement that is signed between the two business parties in order to begin the business.
The common points that form the partnership deed are name and geographic location of the firm, complete data including the personal and professional information about the partners, features and benefits of the commercial venture, involvement, roles and responsibilities of each partner and the proportion in which turnover will be divided among the partners. The Finalized partnership deed is submitted to the registrar of the private firms.
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