Firm Registration

The compulsory procedure to follow while initiating company existence. Most start-ups in recent times are thus evolving as partnership firms. Predominantly, the business types in India are either proprietorship firms or partnership firms. Partnership firms are the most common ones among the two. Partnership firms in India are led by the Indian Partnership Act, 1932.A firm's ability to produce a good or service more efficiently than its competitors, which leads to greater profit margins, creates a comparative advantage. Rational consumers will choose the cheaper of any two perfect substitutes offered.