Legal Question in Business Law in India

Re: Partnership

Unforunately, you question has arised very early the Limited Liability Partnership bill is yet to come into effect.

Re: Partnership

1. You may engage a local lawyer to draft a partnership deed;

2. The limited partnership may limit your liabilities to the extent indicated in the deed;

3. The local lawyer may better educate you after he has prepared your deed on your instructions.

Re: Partnership

One must appreciate your interest in LLP,but you may not be able to make LLP because LLP bill was okayed very recently and LLP is going to be implemented wef 01-04-2009.So you have to wait till then.Ofcourse,the rulings may also take effect from the above date itself.The basic requirements for both LLP and Partnership as per partnership act-1932 are almost same except that the first one is governed by ROC(Registrar of Companies) and CLB(Company Law Board) and the second one is covered by Partnership Act-1932.This answer may clear your doubts in detail.

Re: Partnership

In india there is still no such thing . the only thing you can with consent of other partners put a clause in partnership deed.