A partnership firm is a business entity formed by two or more individuals working together under a single enterprise. There are two main categories of partnership firms:

  • Registered Partnership Firm: A registered partnership firm is one that has undergone formal registration with the RoC and has received a registration certificate as evidence of its legal existence.
  • Unregistered Partnership Firm: Any partnership that lacks a registration certificate from the Registrar of Firms is referred to as an unregistered partnership.