Regarding Partnership In A Firm/Business | Vkeel - Free Legal Advice

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Rajasthan

[Hypothetically] If someone is ready to make me a partner in his business/firm. Then can I be a partner even if I am not investing money or providing any services to him, doing this just for the sake of being a partner? The actual point is that will there be any need to show the authorities why I am being made the partner, or a need to show in accounts the money which I am going to invest or how I am going to help the firm. Or the business owner is free to add the partner on his/her own will. The business currently is a Proprietorship Firm. If it is possible, what are the steps to be taken? Please guide us. Thanks

Expert's Answers(4)

xxxxx cxxxxx
Bengaluru, Karnataka

184 Client Ratings

Dear Sir You can become sleeping partner and get profits as per the terms of partnership deed .

September 2, 2020
Advocate Abhimanyu Gurawalia
Patli Hajipur, Haryana

60 Client Ratings

every member in a firm has responsibility with designation

September 1, 2020
Advocate J L Naagar
Jalandhar, Punjab

169 Client Ratings

You can be a partner but the Partnership Deed has got to be circulated in certain Government Department and Banks and other organisations for various reasons to discharge the bounden liability. That understand the situation and circumstances and repercussions also. Be wise and prudent while doing so. Please give me Rank Five and follow me after reviewing my resume and book a consultation for further discussion and explanation if required.

September 1, 2020
Advocate Suneel Moudgil
Panipat, Haryana

40 Client Ratings

you can become a sleeping partner in the firm,

September 1, 2020