PARTNERSHIPNAME :FRAZER TAYLORSTD: SYBCOM BROLL NO: C-10 4437
SUB TOPICS               DEFINITIONREGISTRATION                  ELEMENTS OF  OF A FIRM                   PARTNERSHIP     ...
DEFINITION   A legal form of business operation between two or more    individuals who share management and profits.
ELEMENTS OF PARTNERSHIP                1) PERSONS           2) RESTRICTION ON THE                NO OF PERSON           3)...
MEANING1)PARTNERS2)PARTNERSHIP3)FIRM4)FIRM NAME
FORMATION OF A PARTNERSHIP1) THE DEED OF PARTNERSHIP: Partnership deed is the document that deals with the  rights and ob...
DIFFERENT CLASSES OF PARTNERS                   1) ACTIVE                   PARTNERS 5) PARTNERS                         2...
1) Active partners: The partners who actively participate   They contribute capital2) Dormant, or sleeping Partners: Do...
3) Nominal partners: allow the firm to use their “name” as a partner. They do not invest any capital4) Sub partners: If...
3 TYPES OF PARTNERSHIP              PARTNERSHIP                             3) LIMITED 1) GENERAL    2) LIMITED           ...
1) GENERAL PARTNERSHIP    Each general partner takes part in the management of the    business.   If one partner is sued...
2) LIMITED LIABILITIES    A limited partner does not participate, and his liability    is limited.   They only provide a...
3) LIMITED LIABILITY PARTNERSHIP   closer to a limited liability company (LLC).   In the LLP, all partners have limited ...
MINOR AS A PARTNER   In special cases a minor can be admitted as partner with    certain conditions.   A minor can only ...
REGISTRATION OF FIRMS   Business registration is very important in running a    business.   Registration of a company is...
THANK YOU…..
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Partnership (sem 3)

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Partnership (sem 3)

  1. 1. PARTNERSHIPNAME :FRAZER TAYLORSTD: SYBCOM BROLL NO: C-10 4437
  2. 2. SUB TOPICS DEFINITIONREGISTRATION ELEMENTS OF OF A FIRM PARTNERSHIP FORMATION TYPES OF OFPARTNERSHIPS PARTNERSHIP DIFF CLASSES OF PARTNERS
  3. 3. DEFINITION A legal form of business operation between two or more individuals who share management and profits.
  4. 4. ELEMENTS OF PARTNERSHIP 1) PERSONS 2) RESTRICTION ON THE NO OF PERSON 3) WHO HAVE AGREED 4) THE PROFIT OF A BUSINESS 5) CARRIED ON BY ALL 6) MUTUAL AGENCY
  5. 5. MEANING1)PARTNERS2)PARTNERSHIP3)FIRM4)FIRM NAME
  6. 6. FORMATION OF A PARTNERSHIP1) THE DEED OF PARTNERSHIP: Partnership deed is the document that deals with the rights and obligations of the partnership. 2) WHO MAY BE PARTNERS: Major, sound mind etc
  7. 7. DIFFERENT CLASSES OF PARTNERS 1) ACTIVE PARTNERS 5) PARTNERS 2) DORMANT SHARING OR SLEEPINGPROFITS ONLY PARTNERS 4) SUB 3) NOMINAL PARTNERS PARTNERS
  8. 8. 1) Active partners: The partners who actively participate They contribute capital2) Dormant, or sleeping Partners: Do not participate. Only contribute capital
  9. 9. 3) Nominal partners: allow the firm to use their “name” as a partner. They do not invest any capital4) Sub partners: If a partner wants to share his profits to others he can enter into the partnership with others stating the profit sharing levels or ratio.5) Partners sharing profits only: Partners who does not like loss bearing can enter into partnership sharing only the profit.
  10. 10. 3 TYPES OF PARTNERSHIP PARTNERSHIP 3) LIMITED 1) GENERAL 2) LIMITED LIABILITYPARTNERSHIP PARTNERSHIP PARTNERSHIP
  11. 11. 1) GENERAL PARTNERSHIP Each general partner takes part in the management of the business. If one partner is sued, all partners are held liable.
  12. 12. 2) LIMITED LIABILITIES A limited partner does not participate, and his liability is limited. They only provide an investment and receive a share of the profits.
  13. 13. 3) LIMITED LIABILITY PARTNERSHIP closer to a limited liability company (LLC). In the LLP, all partners have limited liability. partners involved in wrongful or negligent acts are still personally liable, but other partners are protected from liability for those acts.
  14. 14. MINOR AS A PARTNER In special cases a minor can be admitted as partner with certain conditions. A minor can only share the profit of the business. In case of loss his liability is limited to the extent of his capital contribution for the business.
  15. 15. REGISTRATION OF FIRMS Business registration is very important in running a business. Registration of a company is very important as there are many provisions in the company registration.
  16. 16. THANK YOU…..

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