I had am awesome coworker help me with this one.
1.) I needed to check the product version between the versions of and verify everything was ok
2.) In inspecting this in the db_update table, we discovered that the client had tried to create a company before hand but had failed to mention it to us.
3.) we then ran the script from KB863236 (Clear Companies) to delete the non existing company.
4.) This resolved the issue and is allowing the user create a new company.