What is a Partnership?
A Partnership is basically the same as a Trade Name (Sole Proprietorship). The key difference, of course, is that an individual can set up a Trade Name, whereas a Partnership exists when two or more people choose to enter into business together under a name which does not belong to any of them.
Registering a Partnership does not protect the name or prevent others from operating a business using the exact same name. It simply proves that you are using that name to operate a business.
Registering a Partnership also does not establish a legal identity separate from the people who are registering the Partnership. Read more about the difference between a Trade Name/Partnership and an Incorporation. While we can provide general information about incorporating and registering trade names and partnerships, if you aren’t sure which option is best for you, it’s a good idea to talk to a lawyer.
How to Register a Partnership
Registering a Parternship is a simple process and takes only about 10 minutes – we can do it at the counter while you wait.
- Fill out the Declaration of Partnership form. We can also provide the form in our office. The key information that you will need to know in order to fill out this form:
- The full legal name and address of the owners of the business. (If there are more than two partnership, we require all of the information on the form for every partner).
- The type of products or services the business will offer.
- The city, town or village in of Alberta where the business will be located.
- The business name you have selected.
- The date the business started. This date may be in the past or up to six months in the future.
- You will also need to indicate whether the partnership has a fixed term or whether the partnership will continue indefinitely. For fixed term partnership, please be prepared to specify an exact termination date in the future.
- Show valid government-issued ID (passport, Driver’s Licence or PR Card) for each partner.
- Pay the $52 Partnership Registration Fee.