Partnership Firm

An entrepreneur can carry out his/her business by registering a partnership
firm after entering into a partnership deed between two or more partners. Like
Sole Proprietorships, partnership firms also do not have a separate corporate
personality and the liability of the partners is unlimited. Further, it requires periodic
renewal, and it is restricted from issuing any corporate guarantees. Apart from
that, only one partner can act on behalf of the firm.

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