Next step to operating as a solo bird is forming a partnership
with other like-minded people.
Partnership is a vehicle which is commonly used as an entity for
startups. Even the government of India recognises a registered
partnership as an eligible entity for seeking benefits under
various schemes of the government.
A partnership is governed by the provisions of Indian
Partnership Act, 1932.
Two or more partners can join hands for a business relationship,
execute a partnership deed and register it with appropriate
authorities. The partnership deed, among other things, stipulates
the respective capital contributions, rights and obligations,
profit share, etc. of partners.
A partnership is certainly more structured than operating as a
single owner and it has the benefit of pooling the expertise,
contacts, resources, finances and efforts of different people. A
partnership is governed by the partnership deed. It also has the
advantage of being easily wound up, if
