The Partnership firm can be of both types i.e. registered as well as unregistered. The Indian Partnership Act, 1932, does not require the Partnership Firm to be registered i.e. there is not any requirement of the Partnership Firm to be a registered Firm. The only requirement of the act to commence the business as a partnership is the  execution of a Partnership Deed between the Partners. Therefore various partnership businesses exist as an unregistered firm.

But unregistered partnership firms have certain rights denied in Section 69 of the Partnership Act, which deals with the effects of non-registration of a partnership firm. Some of the disadvantages of an unregistered firm are:

1. The firm cannot file a suit against the third party, but Third Parties can file a suit against the firm to enforce their rights.
2. No partner can file a suit against other partners of the firm.
3. The firm cannot file a suit against any partner.
4. A partner cannot file a suit to enforce a right arising from the contract or conferred by the Partnership Act against the firm.

Therefore every partnership firm should be registered sooner or later.