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A partnership deed is another name for a partnership agreement, and sets out the terms and conditions of a partnership. This legal document can be drawn up between those entering into a general, limited, or limited liability partnership.
Meaning of deed of partnership in English a legal agreement to form a partnership (= a company owned by two or more people): The proposed merger was supposed to go live at the start of the year, but apparently, neither firm has signed a deed of partnership that would formalize the arrangement.
Importance of a partnership deed A partnership deed is essential for ensuring transparency and smooth business operations between partners. It acts as a legal document that outlines each partners roles and responsibilities, helping avoid misunderstandings and conflicts.
A deed of partnership also known as a partnership agreement is a legal document signed by two or more partners who come together and decide to run a business for profit. The partnership deed helps to resolve any disagreement or conflict which arises between the partners regarding the partnership norms.
A partnership deed is also called partnership agreement or constitution of partnership or articles of partnership.

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That the business of the Partnership Firm hereby formed shall be that of manufacturing and marketing of paints, colors and varnishes etc., as hereto before. The parties may, however, with their mutual consent embark upon a new line or lines of business and may open branch or branches or new factory.
The three different types of partnership are: General partnership. Limited partnership. Limited liability partnerships.

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