Partnership

partner and partnership in basic formatt

1. Seminar on TYPES OF PARTNER AND PATNERSHIP

2. INTRODUCTION A partnership is one of the most popular type business. Partnership means when two or more persona come together and form business is partnership firm. In this seminar we are discussing on types of partner and partnership firm as well as detail of partnership firm.

3. ACKNOWLEDGEMENT

4. OBJECTIVE Following are the objective of seminar are as follows: To study partnership. To study types of partners . To study types of partnership. To know partner

5. METHOD OF STUDY The above seminar is based on primary and secondary data . Primary data is collected from lectures in DSM college and secondary data is collected from book and internet.

6. MEANING : partnership means when two or more persona come toghter and form business is partnership. Acc. To sec 2 “when two more persone come toghter agree to share profit and loss carried by one acting for them forall ”

7. Kinds Of Partners There may be different kinds of partners in a partnership firm. The important classification of partners is given below: Active partners Sleeping partner, Nominal partner, Partner in profits only, Secret partner,

8. Type 1 ACTIVE PARTNER An invested person who is involved in the daily operations of the partnership. An active partner helps run the business to enhance his or her returns and is therefore considered a material participant. This person typically shares more risk and return versus a limited or silent partner.

9. TYPE NO 2 SLEEPING PARTNER One whose name does not appear in the firm, and who takes no active part in the business, but who has an interest in the concern, and shares the profits, and thereby becomes a partner, either absolutely, or as respects third persons.

10. TYPE NO.3 NOMINAL PARTNER Person who has an interest in the success of a  partnership firm but, legally, is not partner because he or she neither owns a part of the firm nor actively participates in its affairs.

11. TYPE NO.4 PATNER IN PROFIT ONLY This is the type of partner where partner is liable for only profit. This type partner not active but not slipping also.

12. Type no. 5 PARTNER BY ESTOPPEL By creating such atmosphere that everyone should feel that he is real partner but in actual he is not partner.

13. TYPES OF PARTNERSHIP Following are the types of partnership which are as follows : Fixed partnership Partnership at well For particular work Limited partnership

14. Type no.1 FIXED PARTNERSHIP In one formed for a specific purpose, undertaking or venture and is terminated upon completion of the undertaking of accomplishment of the objective. It is also a partnership where the partners agree on the term of its existence. -it becomes a partnership at will if after the expiration of the term , the partners will decide to continue the business.

15. Type no.2 PARTNERSHIP AT WELL IT is one in which there is no fixed term for its existence. It can be terminated anytime.

16. Type no.3 PARTNERSHIP FOR PARTICULAR WORK THIS is the another form of partnership where partnership is form for particular work. Ex. For particular profit or production.

17. Type no.4 limited partnership This a partnership where the liability of one or more but not all partners is limited only up to the extent of his interest or capital in the partnership. In a limited partnership, the law provides that there must be at least one general partner.

18. conclusion It help to know partnership act 1932. Partnership is formed to expand the business. Partnership help to new peoples for new business . Partnership business give opportunities to expand business.