If you want to start a business with one or more persons where you will be sharing the responsibilities and ownership of the company with one or more than one partners, you can opt for registering your business as a partnership firm. A partnership firm includes businesses which have two or more than two people sharing the responsibilities and ownership of the business and its operations.
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A business where two or more than two persons own it and share its profits/loss and responsible for its business and operations is called a partnership firm.
Mainly there are two types of partnerships firms.
It's advisable that you register your partnership firm even though it's not compulsory. There are many benefits to registering your company. If you want to create your partnership firm, you will have to create a partnership deed with your partners.
e.g. Rent/Lease/Leave and Licence Agreement of Business Placeor Electricity Bill/ Water Bill