Can Partnership Firm be dissolved & converted to Propreitor

MumbaiProperties (Realtor) (38 Points)

10 March 2008  

I have a Registered Partnership Firm dealing in landscaping and garden design n development, with me and my brother as a partner. Since my brother has his own independent business in some othe field, he wants to quit the partnership firm.
My Question is :
1. Can we dissolve the firm and convert the same firm as a Proprietory Firm ?
2. What happens to the assets and liabilties of the partnership firm in case of dissolution ? Can the new Proprietor Firm take it up ?

We have this partnership firm for last 12 years and have been using a Logo and the company name which i wanted to register for trademark. Is it advisable to start the new proprietorship firm and then register the name and logo as trademark or register it in the name of the partnership firm ?

Thanks in advance for the help
Ram