Note : Please note that for Sole Proprietorship no agreement is required to be made and registration of the firm is also not essential. However, the owner may be required to obtain a license specific to the line of business from the local administration.
A Joint Hindu Family Business comes into existence by the operation of Hindu law and not out of contract. The rights and liabilities of co-parceners are determined by the general rules of the Hindu law. Registration is not necessary, but the rights of its members to sue third parties for claims of debt remains unaffected.
See also: Choosing a Form of Business Organisation
