It's a rule to design rest api
you can find 'how to design a rest api'
Assuming below code is Sails.js
'PATCH /companies/:id' : 'CompanyController.find'
It will makes REST API that be mapped onto 'CompanyController.find' by using PathParam. Like this
www.example.com/companies/100
Second one will makes REST API by using QueryParam.
It also be mapped onto 'CompanyController.find'
/companies/find?key=Value
But the API format is different. Like this
www.example.com/companies/find?key=100
PathParam or QueryParam is fine to make REST API.
If the Key is primary for company entity,
I think PathParam is more proper than QueryParam.