It depends on who you ask. You shouldn’t put a lot of stock into these since no industry accepted standard for these terms exist. For example, the approach of the test may be referred to as “Ethical Hacking” (implying legitimacy of the approach), “Black Box Testing” (implying a covert, unassisted, test), “White box Testing” (implying an assisted, non-covert test), or any variety of shades of gray along the way.
These are terms cleverly used for marketing purposes and should not be considered when forming a basis of the qualifications of the test team. When selecting a team to perform the test, the company should focus on the credentials of all team members on the project, their experience, peer references from those that have worked with them, and ultimately that their approach and methodology is industry accepted. These characteristics are what matters to ensure a test is performed safely, comprehensively, and can be relied on.
In the ever-changing world of cyber-security, new terms and names are continually being invented to describe a penetration test. Our recommendation is to call a “penetration test” by what it is…a “penetration test”.