Process of legally establishing a business partnership. Involves drafting a deed, obtaining licenses, and registering with authorities. Provides legal recognition and credibility. Partners share profits and liabilities.
Registering a Partnership Firm in Coimbatore offers several advantages:
Legal Action Capability: Enables the firm to file legal cases against third parties and co-partners, providing a formal mechanism to resolve disputes.
Claim Set-off Rights: Grants the firm the right to claim set-off, which enhances its credibility and financial standing.
Entity Conversion: Facilitates the process of converting the firm into a different business entity, if require