PARTNERSHIP FIRM

A sole proprietorship, also known as the sole trader or simply a proprietorship, is a type of enterprise that is owned and run by one natural person and in which there is no legal distinction between the owner and the business entity.

A partnership, which works in a similar way to a sole trader but with two or more people. A written agreement should be in place between the partners and profits are usually shared.

If the Partnership firm is registered ,it gives partners the ability to file a case against third parties and other partners.

It grants the power to claim set-off against any third-party claim

It's easier and faster to convert into any other Business Structure if the Partnership is registered.