A partnership is a business type consisting of two or more partners who own business. This type of business is suitable where more than one person wish to own a business together. A partnership deed signed by all partners is the law that governs the business and rights & liabilities of all partners. In a partnership business, all partners are jointly and individually responsible for profits and liabilities of the business according to their shares. Partnership business is registered with registrar of firms who, after verification of all documents, issues Form C. Form C is a proof of partnership registration.