Partnership Company

According to Section 4 of the Indian Partnership Act, a partnership is a relationship between people who have decided to split the earnings from a firm that they all operate or any one of them acts on their behalf. Consequently, there are three crucial components that make up a partnership.
• A partnership has to be the outcome of a agreement between two or more people.
• The agreement must be designed to share profits and assess the benefits.
• All of them, or one of them acting on behalf of the others, must manage the business.