Using a well organized table, show the differences between partnership and private limited company
| Aspect | Partnership | Private Limited Company |
|-----------------------|-------------------------------------|-------------------------------|
| Legal Status | Not a separate legal entity | Separate legal entity |
| Liability | Partners have unlimited liability | Shareholders have limited liability |
| Number of Members | 2 or more | 2 to 50 (in most countries) |
| Management | Managed by partners | Managed by directors |
| Transferability | Not easily transferable | Shares can be easily transferred |
| Taxation | Partnerships are taxed as individuals| Companies are taxed at corporate rates |
| Compliance | Fewer legal formalities | More legal formalities |
| Funding | Limited access to capital | Easier access to capital |
| Growth potential | Limited due to structure | Higher due to structure |