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Forms Of Business Organization

Question

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Describe the procedure of registration of a partnership firm.

Solution

The registration of a partnership firm although is not compulsory, there are certain benefits of registration, when it comes to exercising legal rights.
A partnership firm can be registered at the start of a partnership or at any time later.
A partnership firm desiring registration applies to the Registrar of Firms in the prescribed form along with a registration fee.
The applicant should state the following:

Name of the firm.
The principal place of business of the firm.
The name of any other place where the firm is to carry on business.
Date of admission of the partners in the firms.
Names and addresses of the partners.
Duration of partnership.

The application must be signed by each partner.
Changes in the above particulars have to be communicated to the Registrar.
The certificate of registration is a reliable evidence and a conclusive proof of the existence of the firm.

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