There is parental responsibility, like legal custody, which is usually shared and which indicates who has the decision making ability for the child(ren). Sole parental responsibility would entitle the nominated parent the ability to made decisions such as school location, medical, etc without the other parents written agreement. In cases like this, the orders may stipulate the other parent is to be notified of the decision or consulted prior but is not required to agree. In shared parental responsibility it is either specified in the orders that both parents must agree in writing in non-emergent matters, or allows for one parent in a specific circumstance to make a decision within strict parameters.
Parenting time is like physical custody, it would refer to the schedule of who the child(ren) spend time with, how often, how long, etc. This is where equal parenting time like 50/50, or supervised or unsupervised visitation is described.
