Partnership Registration is the formal process of legally establishing a business partnership between two or more individuals or entities. It creates a legal entity that is separate from its partners, allowing them to operate under a common business name while sharing profits, losses, and responsibilities according to their agreement.
In India, partnership firms are governed by the Indian Partnership Act, 1932, and offer a flexible business structure that combines the resources and expertise of multiple partners while maintaining relatively simple compliance requirements compared to companies.
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