Advantages of Partnership Firm
Shared Decision Making
Partnership firms allow for multiple partners to collaborate and make decisions together
Ease of Formation
Partnership firms are relatively easy to form as they do not require a lot of legal formalities or paperwork
Shared Financial Burden
In a partnership firm, financial burden is shared among partners, making it easier to raise capital
Flexible Management Structure
Partnership firms have a flexible management structure, allowing partners to define their roles
Tax Benefits
Partnership firms enjoy certain tax benefits such as pass-through taxation
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