Mika
VIP Contributor
Partnership is a business owned by more than one individuals. Private Limited Company has multiple shareholders, thus making it multi owner business. So, what set partnership and private limited company apart? Both are popular business models among small and medium-sized enterprises with limited staff and capital. However, they differ significantly. While both partnership and private limited company can start small, a private limited company has the potential to expand and even launch an IPO and become publicly traded. Partnership businesses are registered with the trade and commerce department, whereas companies are registered with the company registrar's office. Partnership business can transition to private limited company.