What are some key benefits/ reasons for conversion of a partnership firm into a company?

magusJune 19, 2020

Investors prefer corporate structures over partnership firms.
The liability of the members or the directors are limited in case of a company whereas in case of partnership firm the liabilities are unlimited
A company is more transparent structure of business as compared to partnership firm
The benefit of startup recognition under the startup India scheme of the government of India can be availed by a company and not by any partnership firm.
The company has a separate legal identity as compared to a partnership firm.
There is a separation of ownership and management in a company, whereas in partnership firm, the partners are owners and the managers of the firm.

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