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project manager is the miserable guy who is stuck in between trying to satisfy both of them
Complementary relationship
First, All of them can be considered as stakeholder.
Second, The project manager responsible to satisfy the client needs within the budget of the owner.
Third, the client must cooperate with the project manager to get his needs.
The company owner, if not already part of the organisation, is an external stakeholder.
I believe you refer to client as the receiving entity, this is an internal stakeholder.
These stakeholders are considered along with other stakeholders, and you determine their influence and interest in the project, and you manage the project communications (and sometimes ulter some project tasks) to meet expectations and succeed.
There are two important stackholder, you must handle them very well.
His company is returned Chairman of the Board of Directors is considered an employer for a project manager.
The client is a person who provides certain services or benefit from certain services for a company to deal directly with the project manager.
I agree with Raafat Sallam, but when are talking about client and owner we must consider project manager a Contractor or Production line management / company because client and the owners are not always one man
from a pratical point of view the project manager tries to takeover the headaches from manager, given by th client.