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Chariot Posted 20 years ago
Grammar

firm, company

What is the difference between company and firm? Do we say a law company? Are they different in the nature of the business? Thanks a lot.
  

Top answer

I had always thought that, where both are incorporated entities, firms tend to be professions: law, medicine, accountancy. I see, however, that it also has another definition: A commercial partnership of two or more persons, especially when unincorporated . Well, that gibes somewhat with my image, since law firms and medical firms tend to be partnerships.

— Mister Micawber

  • I had always thought that, where both are incorporated entities, firms tend to be professions: law, medicine, accountancy.
  • I see, however, that it also has another definition: A commercial partnership of two or more persons, especially when unincorporated .
  • Well, that gibes somewhat with my image, since law firms and medical firms tend to be partnerships.
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2 Answers
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I had always thought that, where both are incorporated entities, firms tend to be professions: law, medicine, accountancy. I see, however, that it also has another definition: A commercial partnership of two or more persons, especially when unincorporated. Well, that gibes somewhat with my image, since law firms and medical firms tend to be partnerships.
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A firm can be, amongst other things, a company. See:
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http://en.wikipedia.org/wiki/Firm

Firm can have several meanings:
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