Main Difference
The main difference between Partnership and Company is that the Partnership is a arrangement in which parties agree to cooperate to advance their mutual interests and Company is a association or collection of individuals, whether natural persons, juridic persons, or a mixture of both.
Partnership
A partnership is an arrangement where parties, known as partners, agree to cooperate to advance their mutual interests. The partners in a partnership may be individuals, businesses, interest-based organizations, schools, governments or combinations. Organizations may partner to increase the likelihood of each achieving their mission and to amplify their reach. A partnership may result in issuing and holding equity or may be only governed by a contract.
Company
A company, abbreviated as co., is a legal entity made up of an association of people, be they natural, legal, or a mixture of both, for carrying on a commercial or industrial enterprise. Company members share a common purpose, and unite to focus their various talents and organize their collectively available skills or resources to achieve specific, declared goals. Companies take various forms, such as:
voluntary associations, which may include nonprofit organizations
business entities with an aim of gaining a profit
financial entities and banksA company or association of persons can be created at law as a legal person so that the company in itself can accept limited liability for civil responsibility and taxation incurred as members perform (or fail to discharge) their duty within the publicly declared “birth certificate” or published policy.
Companies as legal persons may associate and register themselves collectively as other companies – often known as a corporate group. When a company closes, it may need a “death certificate” to avoid further legal obligations.
Partnership (noun)
The state of being associated with a partner.
Partnership (noun)
An association of two or more people to conduct a business,
Partnership (noun)
The period when two specific batsmen are batting, from the fall of one wicket until the fall of the next; the number of runs scored during this period,
Company (noun)
A team; a group of people who work together professionally.
Company (noun)
A group of individuals who work together for a common purpose.
“A company of actors.”
Company (noun)
A unit of approximately sixty to one hundred and twenty soldiers, typically consisting of two or three platoons and forming part of a battalion.
“the boys in Company C”
Company (noun)
A unit of firefighters and their equipment.
“It took six companies to put out the fire.”
Company (noun)
The entire crew of a ship.
Company (noun)
An entity having legal personality, and thus able to own property and to sue and be sued in its own name; a corporation.
Company (noun)
Any business, whether incorporated or not, that manufactures or sells products (also known as goods), or provides services as a commercial venture.
Company (noun)
Social visitors or companions.
“Keep the house clean; I have company coming.”
Company (noun)
Companionship.
“I treasure your company.”
Company (verb)
To accompany, keep company with.
Company (verb)
To associate.
Company (verb)
To be a lively, cheerful companion.
Company (verb)
To have sexual intercourse.
Partnership (noun)
the state of being a partner or partners
“we should go on working together in partnership”
Partnership (noun)
an association of two or more people as partners
“an increase in partnerships with housing associations”
Partnership (noun)
a business or firm owned and run by two or more partners
“the partnership now owns 22 department stores”
Partnership (noun)
a position as one of the partners in a business or firm
“she will be eligible for a partnership after a few years”
Partnership (noun)
the number of runs added by a pair of batsmen before one of them is dismissed or the innings ends
“their 176-run third-wicket partnership”
Company (noun)
a commercial business
“a company director”
“a shipping company”
“the Ford Motor Company”
Company (noun)
the fact or condition of being with another or others, especially in a way that provides friendship and enjoyment
“I really enjoy his company”
Company (noun)
a person or people regarded as pleasant (or unpleasant) to be with
“you’re not much company—I might as well go home”
“she is excellent company”
Company (noun)
the person or group of people whose society one is currently sharing
“he was silent among such distinguished company”
Company (noun)
a visiting person or group of people
“I’m expecting company”
Company (noun)
a number of individuals gathered together
“the Mayor addressed the assembled company”
Company (noun)
a body of soldiers, especially the smallest subdivision of an infantry battalion, typically commanded by a major or captain
“B Company of the Cheshire Regiment”
Company (noun)
a group of actors, singers, or dancers who perform together
“a national opera company”
Company (noun)
a group of Guides.
Company (noun)
a flock of wigeon (ducks)
“a company of wigeons occasionally numbers several thousand birds”
Company (verb)
associate with; keep company with
“these men which have companied with us all this time”
Company (verb)
accompany (someone)
“the fair dame, companied by Statius and myself”