This document discusses partnerships and includes the following: - It lists the group members studying partnerships. - It defines a partnership as an agreement between two or more persons to cooperate in business to earn profits. - It outlines the history of partnerships dating back to medieval times and the Hanseatic League. - It lists the four elements required for a partnership: association of two or more persons, agreement, earning of profits, and existence of a business. - It discusses the merits and demerits of partnerships, including advantages like capital pooling but disadvantages like personal disputes. - It provides details on partnership registration requirements in Pakistan.

2. Corporate and
Commercial law

3. Partnership

4. Group members
Hira Nisar K5F15MCOM0002
Saher Yaseen K5F15MCOM0004
Zain Chaudhary K5F15MCOM00013
Ahmad Raza K5F15MCOM002231
Abdul Rehman K5F15MCOM0008

6.  Introduction
 History
 Definition
 Elements of partnership
 Merits / Advantages of partnership
 Demerits / Disadvantage of partnership
 Registration of Partnership
 Conclusion
Contents

7. A partnership is an arrangement where parties,
known as partners, agree to cooperate to advance
their mutual interests. The partners in a partnership
may be individuals, businesses, interest-
based organizations, schools, governments or
combinations.
Introduction

8. Partnerships have a long history, they were already in use in
Medieval times in Europe and in the Middle East. In Europe,
the partnerships contributed to the Commercial Revolution
which started in the 13th century. In the 15th, century the
cities member of the Hanseatic League, would mutually
strengthen each other; a ship from Hamburg to Danzig,
would not only carry its own cargo but was also
commissioned to transport freight for other members of the
league. This practice not only saved time and money; but
also constituted a first step toward partnership. This
capacity to join forces in reciprocal services became a
distinctive feature, and a long lasting success factor, of the
Hanseatic team spirit.
History of Partnership

9. According to Partnership Act 1932 section (4)
“Partnership is the relation between persons
who have agreed to share the profits of a
business carried on by all or any one of them
acting for all.”
Definition

10. There are for elements of partnership
1. Association of at least two person.
2. Agreement at least two person
3. Earning of profit
4. Existence of business.
Elements Of Partnership

11. 1. Agreement
2. Registration
3.Large Capital
4. Reduction of work Load
5. Higher Innovation
6. Business
Merits / Advantages of Partnership

12. 7. Profit and Loss sharing
8. Duration of partnership
9. Participation in management
10. Mutual Co-operation
11. Transfer of shares
Merits of Partnership Cont......

14. Agreement

15. Registration

16. Large Capital

17. Reduction of work Load

18. Higher Innovation

19. Profit and Loss sharing

21. Participation in management

22. Mutual Co-operation

23. Transfer of shares

24. 1. Personal Disputes
2. Dificult to separate
3. Delay in decisions
4. Lack of secrecy
5. Limites Resources
Demerits of Partnership

25. 6. Lack of continuty
7. Dificult to close
8. Unlimited Liabilities
9. Lack of Public Confidence
10. Dificult to admit new partner
Demerits of Partnership cont.....

26. Personal Disputes

28. Dificult to separate

29. Delay in decisions
Zain Ch Raza
Abdul Rehman

30. Lack of secrecy

31. Limites Resources

32. Lack of continuty

33. Dificult to close

34. Unlimited Liabilities

36. Lack of Public Confidence

37. Dificult to admit new partner

38. o Submission Of Applictaion
o Verification of Application
o Fee for sbumission of form/
application
o Certification
o Penalty for wrong Particular
Registration Of Partnership

39. A .Name of the firm
B. Place of business
c. Name of partners
d. Duration
e. Date of Joining
f. Other Places
g. Nature of Business
Submission Of Applictaion

40. Verification of Application
 Fee for sbumission of form/
application
 Certification
 Penalty for wrong Particular

41. Partnership Form of organization is
suitable Where business is of medium
size; the partners are of equal status ,
ability and resources. The partners
rights and duties are determined by
agreement between the partners. But
where the agreement is silent the
partnership act determines the right and
duties of partners.
Conclusion