KEY DIFFERENCE BETWEEN COMPANY AND PARTNERSHIP FIRM IN PAKISTAN:
Following are the key difference between company and Partnership Firm:
A company is referred to as separate legal entity registered under the Companeis Act, 2017 whereas
Partnership Firm is legal entity which is no different from it partners. Partnership Firm is registered
under the Partnership Act, 1932.
Members of company are called Directors whereas members in Partnership Firm are referred to as
Active members in company are called directors and members who have only purchases shares of
company is some cases are called subscribers. Active member on the other hand in Partnership Firm
are called Active Partners and non-active members are called Sleeping Partners.
Registered company is called Private Limited. Registered Partnership business is called Partnership
Company can be registered with 2-50 Directors. Firm can be registered with 2 -100 partners.
The liability of directors in case of company is limited to extent of shares of company purchased.
Liability of Partners in case of Partnership Firm is unlimited.
Corporate Law Firm in Lahore , Hamza and Hamza Law Associates can assist in deciding the most
beneficial, effective and reliable business structure that fits your line of business. Once you are clear
on which business structure suits you best, we initiate the process upon your approval without you
worrying about the tiring and hectic process of registration.
Your new business is just a call away. Contact us and get your business registered right away!