1. Active Partner:
- Manages daily operations.
- Contributes capital, shares profit/loss.
- Has unlimited liability.
- Example: Rahul manages the firm's operations.
2. Dormant Partner:
- Only invests and shares profit/loss.
- Doesn’t manage or represent the firm.
- Has liability.
- Example: Priya invests but doesn't work daily.
3. Nominal Partner:
- Lends name only.
- No capital or profit share.
- Liable due to public assumption.
- Example: Amit’s name is used for reputation.
4. Secret Partner:
- Not known publicly.
- Invests, shares profit, and manages.
- Has unlimited liability.
- Example: Rina works and invests secretly.
5. Minor as Partner:
- Under 18, can’t contract.
- Can share profits with consent.
- No personal liability.
- Example: Ansh, age 17, shares profits with consent.
6. Partner in Profits Only
- Shares profits, not losses.
- May not manage.
- Liable for firm debts.
- Manav only receives profit, not losses.
7. Sub-Partner:
- Shares its profit with outsiders.
- Not a legal partner in the firm.
- Example: Sneha gets a part of Amit’s profit share.
8. Partner with Limited Liability
- Liability limited to investment.
- Usually inactive in management.
- Example: Raj invests ₹50,000, liable up to this amount only.
9. Quasi Partner:
- Retired, leaves capital in the firm.
- Shares profit or interest.
- No management role, still liable.
- Example: Sanjay retired but earns interest on the capital left.
