We provide complete assistance in drafting Partnership Deed, which is mainly formed on basis of following five factors. A partnership deed is basically said to be a contract between business partners, which binds all partners in a legal way. Minimum requirement for forming a partnership is two members and there is a limitation of ten in case of banking & twenty in case of non-banking business. All partners should have a mutual understanding for doing a business. The ratio for profits & losses should be decided among all partners well in advance. All partners should maintain the relationship as a principal-agent. Every partner is answerable for the actions of other partners.
A well-drafted partnership deed specifies rights, liabilities of partners, profit sharing ratio among partners, capital requirement, etc. It avoids confusion among partners; and states clearly about each and every partner in detail. In future, if any dispute has arisen then it can be settled through referring the partnership deed.