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Suryansh Chawla

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If we talk about this paper, the author has beautifully explained the concept of Partnership Firm and its registration. Partnership means when two or more persons come together to perform business and share profits equally or as agreed at the time of partnership. For budding business initiatives, registering a partnership firm is a crucial factor. The importance of registering a partnership business is examined in this abstract. The main benefits of registration are legal protection and recognition. When a partnership is registered, it separates from its participants and becomes a separate legal entity, protecting personal assets from business obligations. Additionally, it gives parties the ability to enforce rights and duties through legal channels, maintaining the integrity of the contract. As banks and other financial organisations sometimes need official registration as a requirement for financial assistance, registration also makes it easier to acquire loans and credit. As the partnership's specifics are made public, it also promotes openness and confidence among partners and outside parties. The benefits of registration in terms of legal protection, financial sustainability, and legitimacy make it a crucial step for every partnership business, even though it comes with certain administrative complexity. The author has tried his best to explain the concept of Partnership firm governed under Indian Partnership Act,1932 and I hope all the readers will read this paper with full interest and dedication.




Legal protection

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