Definitions
- Referring to transactions or activities that occur between different departments or subsidiaries of the same company. - Describing relationships or interactions between different branches or divisions of a single organization. - Talking about financial or operational dealings between related entities within the same corporate structure.
- Referring to relationships or interactions between different corporations or companies. - Describing financial or operational dealings between separate entities or organizations. - Talking about collaborations or partnerships between different businesses or firms.
List of Similarities
- 1Both words describe relationships or interactions between different entities.
- 2Both words involve financial or operational dealings.
- 3Both words can be used in business contexts.
- 4Both words have the prefix 'inter-', meaning 'between'.
What is the difference?
- 1Scope: Intercompany refers to dealings between different parts of the same company, while intercorporate refers to dealings between different companies.
- 2Hierarchy: Intercompany deals with relationships within a single corporate structure, while intercorporate deals with relationships between separate corporate structures.
- 3Size: Intercompany typically involves smaller-scale transactions or activities, while intercorporate often involves larger-scale collaborations or partnerships.
- 4Legal status: Intercompany transactions are often internal and may not require legal documentation, while intercorporate transactions may require legal agreements or contracts.
- 5Frequency: Intercompany transactions may occur more frequently than intercorporate transactions, which may be less common and more strategic.
Remember this!
Intercompany and intercorporate are synonyms that describe relationships or interactions between different entities. However, the main difference between the two is their scope and hierarchy. Intercompany refers to dealings between different parts of the same company, while intercorporate refers to dealings between different companies. Additionally, intercorporate transactions may involve larger-scale collaborations or partnerships and may require legal agreements or contracts.
