Here is a great article on that: https://www.millforbusiness.com/difference-between-firm-and-company/
In brief:
This question must be examined from two main perspectives:
- Legal perspective and;
- Linguistic perspective.
From legal perspective there is no such business structure as firm. The word "firm" is used interchangeably with the term "company".
From a linguistic point of view company is a broader notion of business entity. The notion of “company” embraces the notion of “firm”. In simple words, all business entities are usually referred as companies. Only those of companies that are partnerships are usually referred as firms. (E.g. law firms, accounting firms - those are usually partnerships).
Hope this will help. :)
August 3, 2016
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i think the difference among them is in the degree not in the kind i'll try to explain
Firm is a commercial partnership of two or more persons, especially when unincorporated.e.g a consulting firm
Company is a business enterprise; a firm but a little bigger.e.g 20th century fox company
corporation is a business firm whose articles of incorporation have been approved in some state(microsoft corporation)
co-op - a jointly owned commercial enterprise (usually organized by farmers or consumers) that produces and distributes goods and services and is run for the benefit of its owners
commercial concern is a commercial or industrial enterprise and the people who constitute it; "he bought his brother's business";
look: Firm( bigger) company(bigger) corporation
if u want more details , go to: www.thefreedictionary.com
March 20, 2011
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