Partnership Deed: What to Include and Common Mistakes

A partnership deed is the foundational document for any partnership firm. It must be in writing, on stamp paper of appropriate value as per the state, and signed by all partners. Include: name of firm, nature of business, registered office, names and addresses of partners, capital contributions, profit and loss sharing ratio, interest on capital and drawings, salary and commission to partners, rights and duties, admission and retirement of partners, arbitration clause, and dissolution procedure. Register with the Registrar of Firms for the state.