A company, on the other hand, is a legal entity formed by a group of people to conduct business. It can be a sole proprietorship, partnership, corporation, or other type of business entity. A company can engage in a variety of activities, including the production of goods, the provision of services, or the sale of products.
In the context of the performing arts, a theater company is a group of actors, directors, and other theater professionals who come together to produce theatrical productions. A theater company may have its own theater or it may rent space in a theater for its performances.
The main difference between a theater and a company is that a theater is a physical space where performances are presented, while a company is a legal entity that conducts business. A theater company is a type of company that is specifically focused on the production of theatrical productions.