Partnership Registration

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A Partnershipis a business structure in which two or more individuals manage and operate a business in accordance with the terms and goals set out in the Partnership Deed. Partnership registration are relatively easy and are prevalent amongst little and medium sized businesses in the unorganized sectors. With the introduction of Limited Liability Partnerships in India,Partnership Firms are quick losing their prevalence due to the added advantages offered by a Limited Liability Partnership.

AI Summary

Partnerships Decline as Limited Liability Partnerships Gain Popularity for Small and Medium Businesses in India. A discussion initiated by a user on the forum focused on partnership registration in India, highlighting that partnerships are common among small and medium businesses but are declining due to the benefits of Limited Liability Partnerships (LLPs). One respondent agreed, noting the complexity of the Act and Rules affecting partnerships. Another respondent acknowledged the rising popularity of LLPs, initially referring to it as 'game' instead of 'fame' and apologized for the error. The conversation underscores the shift towards LLPs due to their advantages over traditional partnerships.