what is the difference between company and partnership firm?

Question

defrence between partnership firm & company.
or features of the company and partnership firm

Answer 1

The difference is probably going to depend on corporation and partnership laws in the state where they are located.
A corporation is basically a group of people who have filed for a special status with their state's corporation commission. This allows them not to be personally liable for the acts of the corporation. The corporate form has many components that one must consider like: corporate formalities (most corporations must meet annually, and keep very meticilous records), taxation, management (can be more centralized and delegated), issuing shares (ownership in the company) an other business related problems. It's difficult for me to be more specific because I don't know what state.
A partnership is a group of people who merely decide to go into business together. Their liability is based on their investment many times. They don't necessarily use the corporate commission to do this. In a partnership, partners are also owners and managers of the partnership. They can be held personally liable in many situations, however some prefer this to a corporate because it is so easy to form.
The bare bones is that these two are different types of groups of people that are formed to conduct business.
Please research the website of the corporate commission in your state for a more detailed analysis!

Answer 2

A company is established by a single person on support of others. It is a boss- worker coordination in company, where as in a partnership two or more people come togather to establish the firm and there is no single boss.