Difference Between Partnership Firms and Limited Companies

January 16, 2017

Partnership
1.     Ordinary partners have unlimited liability
2.     Limited to 20 partners
3.     It is regulated by Partnership Act 1890
4.     It is not a legal entity
5.     Need not to incorporate etc
Limited Companies
1.     Share holders have limited liability
2.     Any number of shareholders
3.     It is regulated by Company’s Act 1980
4.     It is a legal entity
5.     It must be incorporated
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By:
Ahmed Xahir
Ahmed Xahir

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