Constitution of firm
Indira Chidambaresan
(Querist) 30 January 2013
This query is : Resolved
Can ABC& Associates be a Proprietorship Firm..
Is the term & Associates only a name and does not signify partners in the firm..
Anirudh
(Expert) 30 January 2013
Would you mind giving your fact situation?
Devajyoti Barman
(Expert) 30 January 2013
No term signifies anything unless the it is done through necessary means.
Guest
(Expert) 30 January 2013
It is not understood, as a chief manager, in what context you have asked this question and in what manner you are related to the firm?
However, for your information, a properietory firm is a single ownership firm. The term "& associates," if included in the name of the firm means there is a possibility of some partners in the firm. The term ' & (and) itself denotes additional persons. But sometimes, a person being a layman, unwittingly and not knowing about the legal implications, includes some suffix with his name to indicate that the firm is run by more than one person.
However, associates can also be the family members not being shown as partners of the firm through any formal agreement. BUT certainly, the chief Manager, like you, as an employee cannot be treated as an associate.
R.K Nanda
(Expert) 30 January 2013
state full facts.
Nadeem Qureshi
(Expert) 30 January 2013
agree with experts, State full facts
Raj Kumar Makkad
(Expert) 08 February 2013
Associates itself denotes the presence of more than one person wheres the proprietorship firm can be of a single person.
