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I want to create an agency that subcontracts specialists to companies. Just wanted to clarify the terms. What is consultancy and agency difference? What is then different from a project company or product company?

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I am not aware of any official or legal definitions of the words - but in my humble opinion I would regard 'agency' and 'consultancy' as synonymous.

A 'project company' is different from a 'product company', as the latter has ownership over a commercial product whereas the former may be hired by a 'product company' to create/maintain their product.

The 'project company' might in itself be a consultancy or use consultancies for staffing projects.

Addendum edit from comment (David R):

The only difference I would add between 'agency' and 'consultancy' is that the 'consultancy' is often just one person or one person and some employees whereas the 'agency' is often 'placing' consultants that are not current employees

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    The only difference I would add between 'agency' and 'consultancy' is that the 'consultancy' is often just one person or one person and some employees whereas the 'agency' is often 'placing' consultants that are not current employees.
    – David R
    Dec 16, 2021 at 15:27
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    @DavidR: I agree. That is a useful distinction
    – morsor
    Dec 17, 2021 at 6:22
  • That might change from country to country, in Brazil, we usually refer to agencies as places that do some IT work, but are stronger in the design and marketing side of things. You would call an agency to build your website and social media and a consultancy to help you scale you AWS deployments, for example. And both would send you one or more employees, which may or may not be called consultants. The way it seems is that an agency makes decisions on your behalf and the consultancy would assist you in making decisions providing supporting knowledge and experience.
    – Magus
    Jan 2, 2022 at 21:29
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Agencies supply consultants. They're like collections of contractors, industry agnostic.

A project company is an agency, or firm that supplies specialized services for projects.

A product company produces items. Apple produces products. The Encyclopedia Britannica Company produces Merriam-Webster's Dictionary—a product.

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