Some companies do use JIRA Project as clients and use JIRA Components (which are part of the project) as projects.
Note that permissions, release types, and other configuration schemes in JIRA are configured for each project, not for each component. This means that with this scheme you can configure permissions for all problems that belong to a particular client.
Versions are also installed in the JIRA project, that is, per client in this case, which may also not be very good.
JIRA also has project categories. If you have a small number of clients, you may be better off with assigning a client to the project category, and then the project will be a JIRA project.
Hope this helps!
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