• Partnership deed is an agreement between the partners in which rights, duties, profits shares and other obligations of each partner is mentioned.

• Partnership deed can be written or oral, although it is always advisable to write a partnership deed to avoid any conflicts in the future.

• Indian Partnership Act, 1932 governs the partnerships. Registration of partnership firm is optional and at the discretion of the partners.

• Registration of partnership firm may be done at any time – before starting a business or anytime during the continuation of partnership.

• It is always advisable to register the firm since a registered firms enjoy special rights which aren’t available to the unregistered firms.