Company

Meaning and Definition

The Company is an artificial legal person created by law. A Company has a right to sue and can be sued, can own property and has banking account in its own name, own money and be a creditor. A Company has a separate legal entity, which is distinct from its shareholder.

A Company is an association of many persons who contribute money or money’s worth to a common stock and employ it for a common purpose. The common stock so contributed is denoted in money and is capital of the company. The persons who contribute it or to whom it belongs are members. The proportion of capital to which each member is entitled is his share.

Definition

“A Company is an artificial person, created by law having a separate entity with a perpetual succession and a common seal.”

“A Company (or “enterprise”) is comprised of all the establishments that operate under the ownership or control of a single organization. A company may be a business, service, or membership organization; consist of one or several establishments; and operate at one or several locations. It includes all subsidiary organizations, all establishments that are majority-owned by the company or any subsidiary, and all the establishments that can be directed or managed by the company or any subsidiary.”

Joint Stock Company
“An unincorporated company whose owners pool capital into a common fund in exchange for a number of shares proportionate to their respective investments. However, unlike a partnership, the shares can be transferred without the express consent of the other owners and, unlike a corporation, the owners are personally liable to the company’s creditors if the company cannot pay its bills.”

Holding Company
“A company, usually a corporation, organized to influence or control other companies by such means as owning large amounts of stock in other corporations.”

Public Company
“A company which has issued securities through an offering, and which are now traded on the open market. also called publicly held or publicly traded. opposite of private company.”