Professional Documents
Culture Documents
ADVANTAGEA DISADVANTAGES
. More capital . Unlimited liabilities
. Combined managerial skills . Problem of management
. Easy to start . Lack of secrecy
. Tax advantages . Instability
REGESTRATION OF PARTNERSHIP BUSINESS
1. A minor
2. A man of unsound mind
3. Insolvent etc.
Learning
1. The main issue in the partnership business is the
agreement. It can be written or orally
2. Family business whether it is sole proprietorship
or partnership personal clash and instability is the
main obstacle in the path of success
3. Different talents and skills join in the partnership
business
4. Considering partners philosophies makes the
success of partnership business
Conclusion
After the sole proprietorship, partnership is the oldest and
most popular form of business. A partnership is mainly based
on a written contract or a voluntary and legal oral agreement.
Success in a voluntary and legal oral agreement. Success in a
partnership business mostly depend on considering each
partners philosophies because people with different talents
and skills may join in a partnership business.