what is the difference between partnership and company
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The next major difference between them is, there is no minimum capital requirement for starting a partnership firm. ... The liability of the partners is unlimited whereas the liability of the company is limited to the extent of shares held by every member or guarantee given by them.
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A company is a body corporate and a legal person having a corporate personality distinct from its members. The members are not liable for the acts of the company. But a partnership has no legal existence distinct from its members. Partners are liable for the acts of the firm.
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