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A producer company is a hybrid between a cooperative society and a private limited company. It is incorporated under section 465(1) of the company Act as a private limited entity. A producer company can be formed by 10 or more individuals or a group where the liability of stakeholders is limited.
A partnership firm is a form of a company where 2 people incorporate a business together and share all the losses and profit. This kind of structure is suited for small and medium businesses as it's easy to maintain and has fewer legal compliances. Such firms are highly unrecommended to run a business as the liabilities are unlimited.
Sole proprietorship firm is a business owned and managed by just a single person; unlike OPC, such a business has unlimited liabilities and no separate legal identity; it's not governed by any law and, therefore, very easy to operate.
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