What are the structural differences between a partnership and a company?

Jack, John, and Pam are university friends and decide to go into business in Auckland alter leaving university. They, have, on an informal basis, already started a spurts equipment business. They are currently running this business from Jack's back yard. Business has picked up rapidy and they are now oonsiden'ng moving to the next level. They are considering running the business either as a partnership or as a company. They lotovv that you are a student of Law of Business Organisations and they have approached you for advice. Specically, they seek your advice on the following: 1} They want to know about the structural differences between a partnership and a company