Association of Person

Association of Persons (AOP) means a group of people who comes together to achieve a common objective with same mind sets. Members in the AOP can be natural or artificial. Association of Persons(AOPs) have low compliance requirements which is why it is preferred by many small businesses at the start. It is important to bring all terms in writing in Association of Person(AOP) deed to avoid any conflict in future.
A partnership firm or Association of Persons is registered with the registrar of firms in your respective district or city. The process of registration is governed by the Partnership Act, 1932. The application for registration has to be signed by all partners. Each Partner is collectively and jointly liable for the liabilities accrued by the Partnership or Association of Person(AOP).
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