A partnership firm has been defined clearly in Section 4 of the act where a partnership has been said to be the relation between individuals who have consented to sharing the profits accrued from a business.
In India, businesses have the great roles and partnership business has such position to build better opportunities for others as well as for it.
See the factors that actually build up a partnership:
1. Partnership's quality
2. Number of partners required to form a firm
2. Contract between the partners
4. Advantages in partnership business
5. How to register partnership firm?
6. Process for getting the registration