What are legal requirements of forming a partnership?
What are legal requirements of forming a partnership?
There are no legal requirements of forming a partnership, but partners like to sign a Deed of partnership.
The Deed of partnership includes:
• The names of the partners
• The addresses of the partners
• The responsibilities of partners
• The share of each partner
• Rights of the partners
• Duration of the partnership
*There might be many more things included in the Deed of partnership so please confirm with your book. I have only provided some of them which are important.
Partnership. May be defined as the business that involve two or more people for a profit motive