Essential Clauses to Include in a Partnership Deed
A Partnership Deed is a legally binding document that defines the roles, responsibilities, and rights of partners in a partnership firm. Whether you are starting a service-based or product-based business in Rajasthan or anywhere in India, having a well-drafted partnership deed ensures smooth business operations and prevents disputes. In this blog post, we will discuss the essential clauses that every partnership deed must include. What is a Partnership Deed? A Partnership Deed is a written agreement that governs the relationship between partners. It is registered under the Indian Partnership Act, 1932 and acts as the foundation of the business. 💡 Why is a Partnership Deed Important? ✅ Defines the profit-sharing ratio ✅ Protects partners’ rights and interests ✅ Helps in dispute resolution ✅ Provides legal recognition to the firm Essential Clauses in a Partnership Deed 1. Name and Address of the Firm & Partners This clause specifies the name of the partnership firm and its busi...