Difference between a firm N company

Husne Mubarak (Querist) 09 February 2011 This query is : Open
Respected Experts,

Q1: What the are the practical differences between a partnership firm and a company?

Q2: Five persons want to start a new business regarding computer supply and services. Should they opt for a partnership firm or a company? What do you suggest?

With regards
Husne Mubarak.

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