A partnership is a business arrangement which involves two or more people. A partnership isn’t a separate legal entity, so the liabilities in addition to the profits are shared by all the partners. The partners agree to do business through a partnership deed, this can be oral or written and can be registered as well. Registration is optional according to the partnership act and can be done at any time not only before starting the business.
(a) the firm-name,
(aa) the nature of business of the firm;
(b) the place or principal place of business of the firm,
(c) the names of any other places where the firm carries on business,
(d) the date when each partner joined the firm,
(e) the names in full and permanent addresses of the partners, and
(f) the duration of the firm.
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