Company in the context of "Corporations"

⭐ In the context of Corporations, a significant advantage offered to investors compared to older business structures like sole proprietorships and partnerships is:

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⭐ Core Definition: Company

A company is a legal entity that represents an association of legal persons with a specific, shared objective, such as the earning of profit or the benefit of society. Depending on jurisdiction, companies can take on various forms, such as voluntary associations, nonprofit organizations, business entities, financial entities, banks, and educational institutions. Across jurisdictions, companies have generally evolved to have certain common legal features, including separate legal personality, limited liability, transferable shares, investor ownership, and a managerial hierarchy.

Depending on jurisdiction, the term "company" may or may not be synonymous with corporation, partnership, firm and society. Companies are governed by company law, which is also known as corporate law in some jurisdictions. Incorporated companies are created by and registered with the state, whereas unincorporated companies are not.

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👉 Company in the context of Corporations

A corporation or body corporate is an individual or a group of people, such as an association or company, that has been 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. Early incorporated entities were established by charter (i.e., by an ad hoc act granted by a monarch or passed by a parliament or legislature). Most jurisdictions now allow the creation of new corporations through registration. Corporations come in many different types but are usually divided by the law of the jurisdiction where they are chartered based on two aspects: whether they can issue stock, or whether they are formed to make a profit. Depending on the number of owners, a corporation can be classified as aggregate (the subject of this article) or sole (a legal entity consisting of a single incorporated office occupied by a single natural person).

Registered corporations have a legal personality recognized by local authorities and their shares are owned by shareholders, whose liability is generally limited to their investment. One of the attractive early advantages corporations offered to their investors, compared to earlier business entities like sole proprietorships and joint partnerships, was limited liability. Limited liability separates control of a company from ownership and means that a passive shareholder in a corporation will not be personally liable either for contractually agreed obligations of the corporation, or for torts (involuntary harms) committed by the corporation against a third party (acts done by the controllers of the corporation).

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Company in the context of Organization

An organization or organisation (Commonwealth English; see spelling differences) is an entity—such as a company, or corporation or an institution (formal organization), or an association—comprising one or more people and having a particular purpose.

Organizations may also operate secretly or illegally in the case of secret societies, criminal organizations, and resistance movements. And in some cases may have obstacles from other organizations (e.g.: MLK's organization).

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Company in the context of Legal entity

In law, a legal person is any person or legal entity that can do the things a human person is usually able to do in law – such as enter into contracts, sue and be sued, own property, and so on. The reason for the term "legal person" is that some legal persons are not human persons: companies and corporations (i.e., business entities) are persons, legally speaking (they can legally do most of the things an ordinary person can do), but they are not, in a literal sense, human beings.

Legal personhood is a prerequisite to legal capacity (the ability of any legal person to amend – i.e. enter into, transfer, etc. – rights and obligations): it is a prerequisite for an international organization being able to sign international treaties in its own name.

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Company in the context of Industry (economics)

In microeconomics, an industry is a branch of an economy that produces a closely related set of raw materials, goods, or services. For example, one might refer to the wood industry or to the insurance industry.

When evaluating a single group or company, its dominant source of revenue is typically used by industry classifications to classify it within a specific industry. For example the International Standard Industrial Classification (ISIC) – used directly or through derived classifications for the official statistics of most countries worldwide – classifies "statistical units" by the "economic activity in which they mainly engage". Industry is then defined as "set of statistical units that are classified into the same ISIC category". However, a single business need not belong just to one industry, such as when a large business (often referred to as a conglomerate) diversifies across separate industries.

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Company in the context of Service (economics)

A service is an act or use for which a consumer, company, or government is willing to pay. Examples include work done by barbers, doctors, lawyers, mechanics, banks, insurance companies, and so on. Public services are those that society (nation state, fiscal union or region) as a whole pays for. Using resources, skill, ingenuity, and experience, service providers benefit service consumers. Services may be defined as intangible acts or performances whereby the service provider provides value to the customer.

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Company in the context of Official history

An official history is a work of history which is sponsored, authorised or endorsed by its subject. The term is most commonly used for histories which are produced for a government. The term also applies to commissions from non-state bodies including histories of commercial companies. An official biography (one written with the permission, cooperation and sometimes the participation of its subject or heirs) is an authorised biography.

Official histories frequently have the advantage that the author has had access to archives, been allowed to interview subjects and use other primary sources closed to independent historians. Because of the close relationship between author and subject, such works may be (or be perceived to be) partisan in tone and to lack historical objectivity. Such bias varies and some official histories have been called exercises in propaganda; in other cases the authors have retained a measure of independence.

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Company in the context of Chemical industry

The chemical industry comprises the companies and other organizations that develop and produce industrial, specialty and other chemicals. Central to the modern world economy, the chemical industry converts raw materials (oil, natural gas, air, water, metals, and minerals) into commodity chemicals for industrial and consumer products. It includes industries for petrochemicals such as polymers for plastics and synthetic fibers; inorganic chemicals such as acids and alkalis; agricultural chemicals such as fertilizers, pesticides and herbicides; and other categories such as industrial gases, speciality chemicals and pharmaceuticals.

Various professionals are involved in the chemical industry including chemical engineers, chemists and lab technicians.

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