Q: What is the difference between partnership firm and sole proprietorship company ?

Ans: Though an OPC and sole proprietorship have only one person/member, their functioning differs. OPC has the features of a company, while the sole proprietorship does not enjoy the benefits of a company. Thus, the sole proprietor has unlimited liability, and the business does not have perpetual succession. The sole proprietorship is registered under shop and establishment act of states. 


In company law, perpetual succession is the continuation of a company's/corporation's or other organization's existence despite the death, retirement, bankruptcy, insolvency, insanity, change in membership or an exit from the business of any owner or member, or any transfer of stock etc.

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