Document background
The Law Firm Partnership Deed is a foundational document used when establishing or restructuring a law firm partnership in India. It serves as the primary governing document that defines the relationship between partners and sets forth the operational framework of the legal practice. This document is essential for compliance with the Indian Partnership Act, 1932, the Advocates Act, 1961, and various Bar Council of India regulations. It typically includes detailed provisions on capital contribution, profit sharing, management structure, decision-making processes, partner duties, client handling, and dispute resolution mechanisms. The deed is particularly crucial in the Indian legal context as it must balance traditional partnership principles with specific requirements for legal practice, including professional conduct rules and regulatory compliance. It's commonly used when new firms are formed, existing partnerships are modified, or when new partners are admitted to an established practice.
