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| Points | Co-operative Society | Partnership Firm |
| 1. Meaning | Co-operative Society is a voluntary association of individuals Which is formed for providing services to its members. | A partnership firm is formed by two or more persons to do business and share profits. |
| 2. Number of members | Minimum ten persons and maximum no limit. | Minimum two persons and a maximum of fifty persons. |
| 3. Registration | It is compulsory. | It is not compulsory in India, but compulsory is Maharashtra |
| 4. Liability | The liability of members is limited up to the extent of the unpaid amount on shares held by them. | The liability of partners is unlimited, joint, and several. |
| 5. Secrecy | It is not possible to maintain secrecy iii a Co-operative Society. | The company has huge capital. |
| 6. Management | Managing Committee manages the society according to its bye-laws. | All partners are involved in the management of the firm. |
| 7. Stability | Stability is not affected by death, insolvency, or lunacy of a member. | The stability of a firm is affected by death, insolvency or lunacy of a partner. |
| 8. Government Control | There is a lot of government supervision and control. | There is minimum government supervision for a partnership firm. |
| 9. Act | Co-operative Societies have to follow the Indian Co-operative Societies Act, 1912. In Maharashtra, societies have to follow the Maharashtra Co-operative Societies Act, 1960. | Partnership firms are governed by the Indian Partnership Act, 1932. |
| 10. Motive | The motive is to give maximum services to the people. | The motive is to earn profits. |
| 11. Legal Status | A Co-operative Society enjoys an independent legal status, distinct from its members. | Partnership firms do not have an independent legal status. Partners and the firms are one and the same. |
| 12. Transfer of shares | Members can surrender shares to society. | Partners cannot transfer the shares without the consent of other partners. |
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Shashi Ramachandran 7 years, 4 months ago
It is formed under Cooperative society Act 1912
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