Thursday, November 7, 2024

Tag: Company and other associations

Distinction between Company and Partnership

The main point of distinction between a Company and a Partnership firm are as follow - 1. A company is a distinct person, but a partnership firm is not distinct from the persons who form it. 2. In a partnership, the property of the firm is the property of the individual members who are collectively entitled to it. In case of a company the property of belongs to the company and not the members.