Persons who have entered into a partnership with one another are called individually “partners” and collectively “a firm”, and the name under which their business is carried on is called the “firm-name”.

To commence a partnership,atleast two persons are required. The firm doesn’t have a separate legal entity like a company. The firm is a collective name given to individual partners.

A firm is registered under Registrar of Firms, situated in the respective jurisdiction.
Advantage of Registration partnership

• 1. Partners can file suits
• 2. New partner can getting information about the firm
• 3. Third party can get information about the firm
• 4. More manpower
• 5. More financial resource
• 6. Ease of information
• 7. Easy Dissolution
• 8. Division of risks
• 9. Secrecy
• 10. Better making decision
• 11. Flexibility