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What is difference between company and firm?

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Question added by VENKITARAMAN KRISHNA MOORTHY VRINDAVAN , Project Execution Manager & Accounts Manager , ALI INTERNATIONAL TRADING EST.
Date Posted: 2014/09/08
Saiful Islam Hiron
by Saiful Islam Hiron , Site HR Manager , Handicap International

Firm: It means Unit of the organization or small part of the entity.

Company: Which has legal entity to operate the business.

Kumar Thenuwara
by Kumar Thenuwara , Executive Secretary , Al Sulaiman Inter Market International

Company consists a board of directors and its constitution or memorandom of Article. Firm could be under sole proprietorship or partnership with or with out constituition.

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