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Ken
What's the differences among company,corporation,enterprise and firm?
Jun 4, 2021 2:31 PM
Answers · 2
1
Hey Ken!
Company: a very general description for a business organization of any size or structure. Ex: I work for an American company. We're doing well at the company this season.
Corporation: Technically speaking, a business organization "incorporated" by law. The common connotation of corporation is a large business, it has some negative connotations in political and everyday discourse as being large, removed from human interest. But it's very common in business and academic language. Ex: Exxon-Mobil is a large multinational corporation.
Enterprise: Less common in the U.S. It's mainly used to describe a business venture, one that's difficult, adventurous, or brave. Ex: An enterprising businesswoman, she invested heavily in AI and nanotechnology in the early 2010s. I know China uses the term state-owned enterprise, which we have very few of in the US. Not sure if "enterprise" in China has a distinct structure different from other businesses.
Firm: Academic and legal term for the most part. If you study economics, you'll hear about a firm operating at a loss, with a surplus. Think of it as a very general academic container for a business venture. The most common usage in public though is for law firms. You wouldn't say a law company, corporation, or enterprise. It's always a law firm.
June 4, 2021
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Ken
Language Skills
Chinese (Mandarin), English, Japanese, Korean
Learning Language
English, Japanese
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