E-Commerce Power Point Presentation Full

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R O L L . N O = 1 1 0 8 2 1 5 8 4 4 1
S U B J E C T = C O M M E R C E
NAME= SONIKA

2. PA R T N E R S H I P
INTRODUCTION
FEATURES OF PARTNERSHIP
TYPES OF PARTNERSHIP
ADVANTAGES OF PARTNERSHIP
CONCLUSION

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I N T RO
A partnership is a kind of business
where a formal agreement between two
or more people is made who agree to be
the co-owners, distribute responsibilities
for running an organization and share
the income or losses that the business
generates.

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F E AT U R E S O F
PA R T N E R S H I P
1. AGREEMENT BETWEEN PARTNERS
2. TWO OR MORE PERSONS
3. SHARING OF PROFIT
4. BUSINESS MOTIVE
5. MUTUAL BUSINESS

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Agreement between Partners It is an association of two or more individuals, and a partnership
arises from an agreement or a contract. The agreement (accord) becomes the basis of the association between the
partners. Such an agreement is in the written form.
Two or More Persons In order to manifest a partnership, there should be at least two (2) persons
possessing a common goal. To put it in other words, the minimal number of partners in an enterprise can be two
(2). However, there is a constraint on their maximum number of people.
Sharing of Profit Another significant component of the partnership is, the accord between partners has
to share gains and losses of a trading concern. However, the definition held in the Partnership Act elucidates –
partnership as an association between people who have consented to share the gains of a business, the sharing of
loss is implicit. Hence, sharing of gains and losses is vital.
Business Motive It is important for a firm to carry some kind of business and should have a profit gaining
motive.
Mutual Business The partners are the owners as well as the agent of their firm. Any act performed by
one partner can affect other partners and the firm. It can be concluded that this point acts as a test of partnership
for all the partners.

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Types
Of
Partnership
s
General
Partnershi
p
Limited
Partnershi
p
Limited
Liability
Partnership
Partnershi
p at Will

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Easy
Formation
An agreement
can be made
oral or printed
as an
agreement to
enter as a
partner and
establish a firm.
Large
Resources
Unlike sole
proprietor
where every
contribution is
made by one
person, in
partnership,
partners of the
firm can
contribute more
capital and
other resources
as required.
Flexibility
The partners
can initiate any
changes if they
think it is
required to
meet the
desired result
or change
circumstances.
Sharing Risk
All loss incurred
by the firm is
equally
distributed
amongst each
partner.
Combination of
different skills
The partnership
firm has the
advantage of
knowledge, skill,
experience and
talents of
different
partners.
A D VA N TAG E S O F PA R T N E R S H I P

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S U M M A RY
A partnership is an arrangement between two
or more people to oversee business operations
and share its profits and liabilities. In a general
partnership company, all members share both
profits and liabilities. Professionals like doctors
and lawyers often form a limited liability
partnership.

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