Legal Question in Business Law in India

Hello Sir/Madam

My name is Ankit Gupta and i m MBA in Marketing and PGDBI in finance. Now i am planning to start my own busines in service sector. .And i wanted to start it in a partnership with my friend on 50-50% profit and loss basis. In our busines both of us depend on each other. As i have no idea regarding partnership laws. My questions to my hounourable and respected lawyers are:

Ques: Please suggest me some guidelines which i need to be taking care of while making a partnership deed or contract.?

Ques: Any special clause which i must have to add in partnership deed which give me some security from any default or breach by my partner?


Asked on 11/08/10, 9:07 am

1 Answer from Attorneys

Hi Ankit,

Its good that you are entering into a business venture as a partner with your friend.

Both of you have to enter into a partnership deed. The contents of the deed can be discussed only after we go though the exact nature of business, Amount employed by both of you, personal interest etc.

You should contact a lawyer for the said purpose. You can even go in for Limited Liability Partnership which is more beneficial and sofisticated form of a partnership.

For more clarifications you may also contact us at 9811617186

Regards

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Answered on 11/08/10, 10:35 pm


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