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Proprietorship Registration In Palakkad FAQ's
The proprietor and the proprietorship firm are the same legal entity. The business is not a separate legal entity. The assets and the liabilities of the business and the proprietor will also be the same.
There is no certificate of incorporation or registration provided to the proprietorship firms In Palakkad. The identity of the proprietorships is established by registering with the local and the state government authorities.
Yes, a proprietorship can be converted into an LLP. But the whole procedure is time-consuming and cumbersome.
As the proprietorships are owned by a single person other individuals cannot invest in proprietorships.
There is no registry or regulation to register the name of the proprietorships. However, In case a business wants they can get a trademark registration to maintain the exclusive use of the business name.
There is no such minimum capital requirement to register a proprietorship in Palakkad.