What is a Partnership Deed?

A Partnership Deed is a legally binding agreement between two or more individuals who agree to operate a business jointly and share its profits and losses. It lays down the rules, obligations, profit-sharing ratios, decision-making powers, and other key terms that govern the functioning of the firm.

This document is essential for registering a partnership firm, opening a bank account, applying for loans, or entering contracts. It provides a solid foundation for transparency and accountability among partners and helps prevent conflicts by outlining legal provisions in advance.

Our expert service offers customized drafting of your Partnership Deed with all necessary clauses tailored to your business model.

✅ Benefits of Partnership Deed

🎯 Provide 7 strong benefit points, written from the client’s perspective.

1️⃣ I establish a legally valid partnership firm with clarity and structure
2️⃣ I define roles, responsibilities, and profit-sharing in writing
3️⃣ I prevent legal disputes with clear exit and dissolution terms
4️⃣ I can register my firm and open a current bank account easily
5️⃣ I gain legal protection and transparency among all partners
6️⃣ I customize the agreement as per my business and partner needs
7️⃣ I ensure compliance with the Indian Partnership Act, 1932

📑 Documents Required for Partnership Deed

📂 List all required documents with relevant emojis and brief explanations.

1️⃣ 🪪 ID Proof of Partners – Aadhaar card, PAN card of all partners
2️⃣ 🏠 Address Proof – Electricity bill, rent agreement of business premises
3️⃣ 🧾 Photographs – Passport-size photos of all partners
4️⃣ 📄 Business Name & Activity Details – Nature of business and firm name
5️⃣ ✍️ Capital Contribution Details – Each partner’s investment in the firm
6️⃣ 📜 Draft Terms (Optional) – Any specific clauses you want included

👤 Who Needs a Partnership Deed?

🧾 A Partnership Deed is essential for:

• Entrepreneurs starting a business with one or more partners

• Small businesses and startups that operate jointly

• Family-owned firms or informal groups transitioning to legal firms

• Businesses applying for GST, MSME, or bank loans

• Unregistered firms planning to formalize their structure legally

🔄 Process of Getting a Partnership Deed

🔁 Provide a step-by-step explanation of how the service is executed from start to finish.

1️⃣ Partner Details Collection – We gather personal and business details of all partners
2️⃣ Drafting the Deed – Customized deed is prepared with key legal clauses
3️⃣ Client Review – You review the draft and request modifications if needed
4️⃣ Finalization – Deed is finalized and printed on required stamp paper
5️⃣ Notarization (if required) – Document is notarized for legal authenticity
6️⃣ Delivery – Final deed is delivered in digital and/or physical format

⏱️ Timeline for Partnership Deed

⏳ The Partnership Deed can be drafted and finalized within 2 to 4 business days, depending on the complexity and number of partners.
Stamp paper procurement and notarization may extend the timeline by 1–2 days.

Urgent service available with express processing.

❓ Frequently Asked Questions (FAQs) about Partnership Deed

1️⃣ What is a Partnership Deed?
It’s a legal agreement that outlines the terms and conditions of a business partnership between two or more individuals.

2️⃣ Is it mandatory to register the Partnership Deed?
Registration is not mandatory, but a registered partnership offers better legal protection and is required for some official processes.

3️⃣ What is the minimum number of partners required?
A minimum of two partners is required to form a partnership firm.

4️⃣ Can a partnership deed be altered later?
Yes, a supplementary deed can be created to amend any terms in the original deed.

5️⃣ Is notarization of the partnership deed necessary?
It’s not legally mandatory but is highly recommended for authenticity and ease in registration.

6️⃣ What is the stamp duty for a partnership deed?
Stamp duty varies by state; we provide the correct denomination based on your location.

7️⃣ Can a firm operate without a partnership deed?
Yes, but it’s risky as there will be no legal document defining responsibilities and profit-sharing.

8️⃣ Is a Partnership Deed valid without registration?
Yes, it is legally valid, but registration enhances enforceability in disputes and official matters.

9️⃣ Can a company be a partner in a partnership firm?
Yes, a legal entity like a company can also be a partner in a firm, subject to conditions.

🔟 Why should I get a professionally drafted deed?
To avoid future disputes, ensure legal compliance, and clearly define all business terms and partner obligations.