• Legal agreement with existing company

My questions are given below…..

1. How many persons can join a proprietorship firm as partners keeping the firm in proprietorship

2. If this is not possible then if they can join as business associates, looking after separate divisions of the company individually and solely.

3. Can a individual be business associates of many companies at the same time.

4. If it is possible , then what will be better, * he should be using banner of primary firms or he should create a new banner.
Asked 2 years ago in Business Law from Kolkata, West Bengal
1)proprietor means one person . hence words sole proprietor used . 

2) if you want more than one person form a partnership firm . register it with registrar of Firms . in the alternative form limited liability partnership . 

3) if you want to form a company register it under companies act . each director can handle a particular division of company . 
4) range of responsibilities   should be predefined . you can act as agent of many companies if you so desire .
Ajay Sethi
Advocate, Mumbai
23177 Answers
1217 Consultations
5.0 on 5.0
better form a partnership firm
Rajeev Bari
Advocate, New Delhi
1506 Answers
92 Consultations
3.5 on 5.0
There cannot be more than a single individual at the helm of affairs in a sole proprietorship. If you desire more than one then form a partnership. Partnership will require a registration under Partnership Act.

You must first clearly decide the role you want to be assigned to every person, based thereon the most viable form of business can be formed.
Ashish Davessar
Advocate, Jaipur
18088 Answers
447 Consultations
5.0 on 5.0

Ask a Lawyer

Get legal answers from top-rated lawyers in 1 hour. It's quick, easy, and anonymous!
Ask a Lawyer

Business Lawyers

T Kalaiselvan
Advocate, Vellore
13969 Answers
127 Consultations
5.0 on 5.0
Ajay Sethi
Advocate, Mumbai
23177 Answers
1217 Consultations
5.0 on 5.0
Ashish Davessar
Advocate, Jaipur
18088 Answers
447 Consultations
5.0 on 5.0
Krishna Kishore Ganguly
Advocate, Kolkata
12088 Answers
229 Consultations
5.0 on 5.0
Devajyoti Barman
Advocate, Kolkata
5189 Answers
54 Consultations
4.9 on 5.0
Nadeem Qureshi
Advocate, New Delhi
3523 Answers
130 Consultations
4.9 on 5.0
Rajgopalan Sripathi
Advocate, Hyderabad
868 Answers
43 Consultations
5.0 on 5.0
Shivendra Pratap Singh
Advocate, Lucknow
2735 Answers
41 Consultations
4.9 on 5.0
Lakshmi Kanth
Advocate, Hyderabad
223 Answers
2 Consultations
4.8 on 5.0
Shashidhar S. Sastry
Advocate, Bangalore
1233 Answers
59 Consultations
5.0 on 5.0