Company

There are many differences between a company and a sole proprietorship. 1) A company has many members depending upon whether it is public or private Ltd or one person company where as a in a sole proprietorship a single member manages the firm. 2) The death or any other causes doesn't affect the company's existence where as in sole proprietorship there is no guarantee of continuity. 3) As the point aldready said a company has limited liability ( not incase of unlimited liability company, which now, doesn't exist in India) where as sole proprietorship has an unlimited liability. 4) The capital is brought by the proprietor in the sole proprietorship where as shares were issued to public for capital formation in company.

Doonika Chunduri

CA Inter

★ 5K+

23-Sep-21 00:23

Unlike sole proprietorship, company has limited liability

Yoga Vishnu

CA Final

★ 11K+

22-Sep-21 11:40

In the third point ( the companies like limited liability company LLP) not unlimited liability company. Sorry for the mistake

Doonika Chunduri

CA Inter

★ 5K+

22-Oct-21 23:05

Ah sorry again ! It was right. It's unlimited liability company

Doonika Chunduri

CA Inter

★ 5K+

22-Oct-21 23:06