The document discusses partnership businesses, including their objectives, missions, visions, methodologies, limitations, and requirements. A partnership business involves two or more people entering a partnership agreement to jointly operate a business venture. Key requirements include a contract between partners, association of two or more people, agreement to carry on business and share profits, and mutual agency where all partners act on behalf of the business. While registration is not mandatory, it provides benefits like protecting assets and allowing partners to seek private equity funding. Overall, partnership relies on trust between partners.

1. PARTNERSHIP
BUSINESS
SUBMITTED BY
TERBEN HOSSAIN 141011119
RANA SAHA 141011099
AMENA HOSSAIN 141011063
SHIBSANKER SAHA 141011184
ATIKUR RAHMAN 141011025

2. INTRODUCTION
 Partnership business venture is an entity, where two or more persons
enter in to a Partnership Agreement and form a business Firm to run a
particular business.
 Partnership Agreement a trade license shall require to be obtained in the
name of the Firm and therefore that partnership entity can run the
business. The Partnership Agreement can be registered with Registrar for
Joint Stock of Companies and Firms (RJSC).

3. OBJECTIVE
 Partnership firm is a business venture of two or more persons and they entered
in to a Partnership Agreement with the objective to run and operate a business
under the head and title of the name of the firm and after obtaining trade license
and all other necessary permissions, as required for the said purpose.

4. MISSION & VISION
 MISSION: To promote development effectiveness in all areas of work both our
own and the work of other, including through active engagement.
 VISION: We envisage a world where respect for human rights, participatory
democracy, social and environmental justice and sustainability, gender equality
and equity and decent work and sustainable change are achieved.

5. METHODOLOGY
 Efficient and healthy internal and external partnerships under gird the success of
every organization. Businesses are becoming interlinking, neural-like webs of
information, production and marketing. While competitors can copy new
technology, innovative marketing approaches or leading-edge designs. they are
hard-pressed to copy the dynamics created through partnering relationships.

6. LIMITATIONS
 UNCERTAINTY OF DURATION: Partnership suffers from a possible limited span of life.
 RISKS OF ADDITIONAL LIABILITY: sole proprietor, each partner has unlimited liability.
liability may arise not only from his own acts.
 LACK OF HARMONY: Lack of harmony centralized authority and conflicts in policy can
disrupt the organization.
 DIFFICULTY IN WITHDRAWING INVESTMENT: no partner can withdraw his interest
from the firm without the consent of all partnerS.

7.  LACK OF PUBLIC CONFIDENCE: partnership may suffer from lack of public confidence
because like that of a company there is no legal mechanism to enforce the registration of a partnership
firm.
 LIMITED RESOURCES: There is a limit beyond which it is almost impossible for partners to
collect capital. This limit is generally up to the personal properties of partners.
 UNLIMITED LIABILITY: Unlimited liability discourages partners to undertake risky ventures,
and therefore, their risk-taking initiative is dampened.
LIMITATIONS

8. NECESSARY THINGS FOR PARTNERSHIP
BUSINESS
 CONTRACT FOR PARTNERSHIP: Partnership is the result of a contract. It does not arise from status,
operation of law or inheritance.
 ASSOCIATION OF TWO OR MORE PERSONS: partnership is the result of a contract at least two
persons are necessary to constitute a partnership.
 CARRYING ON OF BUSINESS: parties must have agreed to carry on a business. term business is used in
its widest sense and includes every trade, occupation or profession.
 SHARING OF PROFITS: agreement to carry on business must be with the object of sharing profits
amongst all the partners.
 MUTUAL AGENCY: partnership provides that the business must be carried on by all the partners or any
one or more of them acting for all that is there must be mutual agency.

9. REGISTRATION FOR PARTNERSHIP
BUSINESS
 It is not compulsory for partnership. If any partnership firm is not registered it is
not illegal association.
 As far discussion made above we see that though an unregistered firm is not
illegal association it rights as per contract or partnership act. That is though
registration of a partnership is optional its registration is necessary for its own
interest.

10. WHY PARTNERSHIP FIRM
REGISTRATION MUST BE NEEDED?
 PROTECT YOUR ASSETS: By registering business, assets and liabilities are
separated from each other.
 SELL A PRODUCT: invented a revolutionary new product and selling product
all over the world among of people.
 NEED MONEY: seeking private equity you must be registered as a business.
Investors want the protection of incorporation as well as a defined exit strategy
which is defined in some of your incorporation documents.

11. CONCLUSION
 Under the above discussion, we can say that partnership business is a legal
business and its partners are also legal. Because, partners have to doing perform
some formalities. But except these the most important thing of this business is
belief. Without belief everything is baseless. As the partnership business is
consist of some partners. So, the partners must be honest and faithful to each
other. If there is lack of perfect relationship among the partners the business must
be dissolve. So, we can say that Partnership Business is a Business Based on
Fiduciary Relationship.