corporation, firm, company

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Eartha

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Dear all,

Is there any difference between the three words above?

Thanks in advance.

Eartha
 

Route21

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Hi Eartha

As a NES(UK), but not a teacher:

The Oxford English Dictionary defines

1. Firm as:
definition of firm from Oxford Dictionaries Online
"a business concern, especially one involving a partnership of two or more people [as used in thefollowing expressions]:
- state support for small firms
- a law firm"

Essentially I would generally use it in the case of a partnership providing "professsional services" such as a firm of lawyers, solicitors, accountants etc.

2. Company as:
definition of company from Oxford Dictionaries Online
"a commercial business e.g.:
- a shipping company

- [in names] :the Ford Motor Company
- [as modifier] :a company director"

I would normally use this in the context of normal, registered "limited liability" companies.

3. Corporation as:
definition of corporation from Oxford Dictionaries Online
"a large company or group of companies authorized to act as a single entity and recognized as such in law."

I would normally use this term in the context of the overall "parent company" that owns a significant group of companies or a large government-owned/controlled enterprise.

Hope this helps
R21
 
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