Ads
related to: legal entity of a company
Search results
Results From The WOW.Com Content Network
Company; A company is a legal entity formed under the Companies Ordinance, 1984. It can have share capital or can be formed without share capital. A company having share capital may be formed as: (i) A company limited by shares. (ii) A company limited by guarantee. (iii) An unlimited company. Company Limited by Shares
A company, abbreviated as co., is a legal entity representing an association of legal people, whether natural, juridical or a mixture of both, with a specific objective. Company members share a common purpose and unite to achieve specific, declared goals.
A corporation is an organization—usually a group of people or a company—authorized by the state to act as a single entity (a legal entity recognized by private and public law as "born out of statute"; a legal person in a legal context) and recognized as such in law for certain purposes.
In the United States, a company may or may not be a separate legal entity, and is often used synonymous with "firm" or "business." According to Black's Law Dictionary , in America a company means "a corporation — or, less commonly, an association, partnership or union — that carries on industrial enterprise."
There are a number of legal benefits that come with incorporation. One significant legal benefit is the protection of personal assets against the claims of creditors and lawsuits. Sole proprietors and general partners in a partnership are personally and jointly responsible for all the legal liability (LL) of a business such as loans, accounts payable, and legal
As a business entity, an LLC is often more flexible than a corporation and may be well-suited for companies with a single owner. [5] Although LLCs and corporations both possess some analogous features, the basic terminology commonly associated with each type of legal entity, at least within the United States, is sometimes different.
Ads
related to: legal entity of a company