Although the issuance of a partnership deed is not mandatory, it is always preferable to conclude a partnership deed in order to avoid possible disputes and disputes between the partners. The agreement may be concluded between two or more partners. It must be stamped and signed by all partners. (ii) Duration of the partnership: whether it is the duration of the partnership company for a limited period of time or for a given project, each partner receives a percentage of the property on the basis of its capital contribution. In a partnership, several partners can work together (unlike an individual entrepreneur). Each partner shares a portion of the profits and losses of the partnership and each partner is personally responsible for the debts and commitments of the partnership. The partners may indicate the distribution of assets between the partners in the event of dissolution. For mutual benefit, the registration of the act of partnership is carried out in accordance with the Indian Registration Act, 1908, in order to prevent the act of partnership from being destroyed or mutilated by the partners. However, a partnership company can be created without registration under the Indian Registration Act, simply by taking a deep of Partnership. A partnership instrument may consist of more than one document, which means that an amendment agreement may be added at any time to a partnership instrument in order to modify the terms of a partnership undertaking. PandaTip: This document is to serve as a basic document that establishes a formal partnership between two small businesses. As such, it covers only the concepts most necessary for the creation of a business partnership. .