A corporation is created by operation of law through registration, while a partnership is created by mere agreement between partners. A corporation has a separate legal personality from its members or shareholders, but a partnership does not have a separate legal personality from its partners. Shareholders of a corporation are not personally liable for the debts and obligations of the corporation, but partners are personally liable for the debts and obligations of the partnership.
A corporation is created by operation of law through registration, while a partnership is created by mere agreement between partners. A corporation has a separate legal personality from its members or shareholders, but a partnership does not have a separate legal personality from its partners. Shareholders of a corporation are not personally liable for the debts and obligations of the corporation, but partners are personally liable for the debts and obligations of the partnership.
A corporation is created by operation of law through registration, while a partnership is created by mere agreement between partners. A corporation has a separate legal personality from its members or shareholders, but a partnership does not have a separate legal personality from its partners. Shareholders of a corporation are not personally liable for the debts and obligations of the corporation, but partners are personally liable for the debts and obligations of the partnership.