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 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 .
better form a partnership firm
Advocate, New Delhi
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.