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Question ID : 42179

Can Sole Proprietors Create a Partnership Firm ?

Two sole proprietors say A & B practices in their own proprietorship firms, they wants to create a partnership firm say XYZ. Can it is possible that both the partners practices in their own proprietorship firms and also in partnership firm XYZ ? Also please discuss whether in partnership firm counts experience of senior most partner.

Posted by KAMAL KISHORE VERMA on Nov 25, 2021

Filed Under MERGER & ACQUISITION

Answer ID : 81381

1. Yes both partnership and individual proprietorship firm can practice, but in either situation you can't apply in the same organisation with same credentials more then once. 2. Experience of the partnership would be counted from the date of formation of partnership.

Posted by SURAJ KUMAR CHOUDHARY on Dec 07, 2021