Closing Partnership Firm
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Partnership vs Partnership Firm
The process of ending a partnership firm differs from that of ending a partnership. In the first scenario, the company loses its name and is unable to continue operating. However, in the case of dissolving a partnership, the firm may continue to exist if the remaining partners sign a new partnership agreement. The existing partnership may be dissolved by agreement or upon the occurrence of a specific event.
5 Reasons to dissolve a Partnership
Here are the major reasons why people opt for this service:
01
Mutual agreement by partners
02
Compulsory dissolution
03
Contingent events like expiry of a fixed-term, completion of a task or death of a partner
04
Court orders
05
Transfer of interest/equity to a third party without consulting other partners
