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The sole proprietorship is the simplest business form under which one can operate a business without any company registration. It is an unregistered business entity which is owned and managed by one person. The sole proprietorship is a popular business form due to its simplicity, ease of setup, and nominal cost. It simply refers to a person who owns the business and is personally responsible for its debts / losses. A sole proprietorship can operate under the name of its owner or it can do business under a fictitious name. The fictitious name is simply a trade name.
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A Limited Liability Partnership (LLP) is formed and registered under the Act known as Limited Liability Partnership Act, 2008. A Limited Liability Partnership is a hybrid of Partnership Firm and a Company, which means it has features or characteristics of both partnership firm and company. Every LLP company shall have at least two partners for carrying lawful business with a view to earn profit and there is no limit on maximum number of partners. LLP is governed by an agreement between the designated partners or between the designated partners.
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Trademark registration – A trademark is a type of intellectual property consisting of a recognizable sign, design, or expression which identifies products or services of a particular source from those of others, although trademarks used to identify services are usually called service marks. Trademarks in India are listed by the Controller General of Patents Designs and Trademarks, Ministry of Commerce and Industry, Government of India. Trademarks are registered under the Trademark Act, 1999 and give the trademark.
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We have launched a range of Chartered Accountants Services for families along with a complete income tax filing product suite covering ITR-1 to ITR-7. With the launch of our families division, we aim to help millions of Indians with financial literacy, compliance and investment.
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