DIFFERENCES BETWEEN PARTNERSHIP AND PUBLIC LIMITED LIABILITY COMPANY

	Features	Partnership	Public Limited Liability Company
1	Legal entity	It has no separate legal entity	It has separate and distinct legal entity
2	Liability	It has unlimited liability	It has limited liability
3	Membership	It has a minimum of two and a maximum of twenty	It has a minimum of seven and no maximum limit
4	Ownership	It is not separated from management the partners	Ownership is separated from as it is owned and contributed by as it is owned by shareholders and controlled by board of directors.
5	Formation	Rights are regulated by deeds of partnership as they are not incorporated	Governed by memorandum of association as they are incorporated
6	Auditing	No audit of account	Law prescribes an annual audit and publishing of accounts.
7	Perpetuity	Death or withdrawal of a partner can bring it to an end	Company enjoys perpetual existence
8	Raising of capital	This is done through member’s contribution	This can be done through issuance of shares to the public.

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