4. Pay the required registration fee when you submit your partnership form. The Indian Partnership Act, 1932 Section 18, states that a partner is an agent for the business and that the partnership company is not treated as a corporation. Therefore, a company that has received a notarized partnership company does not have legal status for a procedure. A notarized company cannot sue any other party in the event of a dispute. The agreement automatically states that your goal also allows you to “do all other legitimate things to support their commercial purpose and to manage any other type of business on which partners can agree from time to time.” However, keep in mind that you can change your general partnership agreement at any time if necessary. 3. Accept the partnership agreement and partnership form from your Registrar of Firms. What are the stages of rating partnership agreements? Ask the Secretary of State`s office for a “Doing Business as” or a DBA form that you must submit to claim your business name. You must submit it separately from your partnership agreement using your state`s instructions. However, if there is short-term uncertainty about the life of the partnership, it is recommended that the partnership not be notified and start working with a notary partnership. However, if things are streamlined, it should register itself. Yes, assets can be acquired through partnership.

This involves either a partner transferring ownership to the partnership, or the partnership that uses its profits and other assets to acquire more ownership. The ownership acquired by the partnership is owned in the name of the partnership, but is not owned by the partners individually. If the property is owned in the name of a partner, it cannot be a company property, even if it is used by the partnership. A joint venture can be distinguished from a partnership in which a joint venture is usually limited to a single project or limited to a specified period. Even if the members of a joint venture share the costs of the joint venture, the profits are managed by each member. For example: two related companies may work together in a joint venture to explore and develop a particular product, but once the product is complete, each member brings the product obtained to its respective market to market and sell it for the exclusive benefit of each member. In this case, each member would not participate in another member`s earnings. Each member has its own ability to use the product in its respective market place.