Power of Partner.

 Partnership is an important form of business organization. It is an important form in 19th and 20th century. 

There are many kinds of partner. These kinds are active partner, sleeping partner and so on but the right of all partners are equal and equivalent. These rights are-

1. To take part in every meeting- it is the first right of every partner to attend all the meeting that is organised for the growth and development of organization. 

2. To access financial document- there are many types of financial document organization makes. These are profit and loss account, trading account, balance sheet and so on. There are a number of financial paper organization make to such type of document. These document are cash book, journal, ledger, trial balance and so on. It is the right of partner that they may see, care, watch all document. 

3. To get equal profit- there are many types objective before organization. These are survival, sales revenue maximization, profit maximization and so on. Every organization wants to get maximum profit after completing the financial year, the profit organization get is divided among all partners. It is the right of partner to get equal profit. 

4. Right to express- in the process of policy making, planning every partner gives his idea, opinion, thought to development for the organization. It is the right of partner that they can express their idea, opinion, thought, vision, philosophy without any hesitation. 

5. To take advance- if any partner needs financial assistance they may take from organization and that amount will adjust in the end of financial year. There is no any law stop the partner from this type of facility. 

6. To use asset of organization- there are many types of asset organization possess. These asset are car, laptop,, computer, building and so on. It is the right of partner to use such type of asset according to their own need for the development of organization.

7. To travel any part of organization- there are many factories, workshops work under partnership firm. It is the right of partner to travel all parts of the firm without any restrictions. 

8. To stop new partners- if the firm wants to expand itself without the approval of all partners, new partner may not join the firm. So, it is the right of partner to stop any new partner in the firm. 

9. Right to retire- the working age is 60years in India. After 60years people don't want to work and it is the right of partner to take retirement according to their own desire whenever they want. 

Duties of partner:

1. It is the first duty of partner to give clear ideas, opinion, thought, policy in the meeting for the development of organization. 

2. To not take personal benefit- there are many types of asset facility present in the organization. It is the duty of partner to not take any personal benefit from the organization. 

3. Mutual faith- it is the duty of partner to show mutual faith and trust in all partner. It is possible that some mistakes may be done by partner but their intention is no bad. 

4. To do our best- it is bounded by law that every partner should do for the development of organization but it is the duty of partner to do all things for the development and goal achievement of organization.