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Thread: What is the difference between an Firm and Company?

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    What is the difference between an Firm and Company?

    I know that these words are often used as a sustitute to one another, but can any one quote the exact difference between a Firm and Company

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    Re: What is the difference between an Firm and Company?

    Firm is usually used to address partnership organizations. And registered under Partnership Act,1935. The number of owners is comparatively low.
    The word Company is used to address organizations which are formed from share capital. And registered under Companies Act of 1956. Also referred to as Joint stock companies.

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    Re: What is the difference between an Firm and Company?



    In my opinion, a company is called a firm when it is a partnership of two or more persons. So from the linguistic perspective, there is a clear difference between firm and company. Dictionaries make a difference when a company is a partnership. And then they call it a firm. From legal perspective, there is no difference. You can find a detailed comparison of these two notions for those who are interested: https://www.millforbusiness.com/diff...m-and-company/

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