Professional Documents
Culture Documents
Dif Company - Partnership - LLP
Dif Company - Partnership - LLP
A company is:
an association of many persons who contribute
money or money’s worth to a common stock and
employ it in some common trade or business
and who share the profit or loss arising there
from.
Company
Vs.
Partnership
Company Partnership
Governing Act Companies Act 2013 Partnership Act 1932
Registration Registration is Registration is optional
compulsory
Legal Status It has separate Legal No separate Entity
Entity
Liability Limited liability Unlimited liability
Name of the Entity Must have words...Pvt Any name as per the
Ltd /Ltd./ OPC choice
Can it sue third party Being legal entity can Only registered firm can
sue sue
Partnership Limited
Private Limited Liability
Firm Companies Partnership
1. Body corporate
3. Perpetual succession
4. Non-applicability of IPA
provisions
• http://www.mca.gov.in/MinistryV2/incorporatedorclosedd
uringthemonth.html
Company
Vs.
LLP
Company LLP
Prevailing Law Governed by The Governed by LLP
Companies act,2013 act,2008
Common seal Must have its own official May have its own
signature common seal