Partnership in the context of "Company"

A shareholder (in the United States often referred to as stockholder) of corporate stock refers to an individual or legal entity (such as another corporation, a body politic, a trust or partnership) that is registered by the corporation as the legal owner of shares of the share capital of a public or private corporation. Shareholders may be referred to as members of a corporation. A person or legal entity becomes a shareholder in a corporation when their name and other details are entered in the corporation's register of shareholders or members, and unless required by law the corporation is not required or permitted to enquire as to the beneficial ownership of the shares. A corporation generally cannot own shares of itself.

The influence of shareholders on the business is determined by the shareholding percentage owned. Shareholders of corporations are legally separate from the corporation itself. They are generally not liable for the corporation's debts, and the shareholders' liability for company debts is said to be limited to the unpaid share price unless a shareholder has offered guarantees. The corporation is not required to record the beneficial ownership of a shareholding, only the owner as recorded on the register. When more than one person is on the record as owners of a shareholding, the first one on the record is taken to control the shareholding, and all correspondence and communication by the company will be with that person.

A sole proprietorship, also known as a sole tradership, individual entrepreneurship or proprietorship, is a type of enterprise owned and run by only one person and in which there is no legal distinction between the owner and the business entity. A sole trader does not necessarily work alone and may employ other people.

The sole trader receives all profits (subject to taxation specific to the business) and has unlimited responsibility for all losses and debts. Every asset of the business is owned by the proprietor, and all debts of the business are that of the proprietor; the business is not a separate legal entity. The arrangement is a "sole" proprietorship in contrast with a partnership, which has at least two owners.

In financial accounting, a balance sheet (also known as statement of financial position or statement of financial condition) is a summary of the financial balances of an individual or organization, whether it be a sole proprietorship, a business partnership, a corporation, a private limited company or other organization such as a government or not-for-profit entity. Assets, liabilities and ownership equity are listed as of a specific date, such as the end of its financial year. A balance sheet is often described as a "snapshot of a company's financial condition". It is the summary of each and every financial statement of an organization.

Of the four basic financial statements, the balance sheet is the only statement that applies to a single point in time of a business's calendar year.

A limited partnership (LP) is a type of partnership with general partners, who have a right to manage the business, and limited partners, who have no right to manage the business but have only limited liability for its debts. Limited partnerships are distinct from limited liability partnerships in which all partners have limited liability.

The general partners (GPs) are, in all major respects, in the same legal position as partners in a conventional firm: they have management control, share the right to use partnership property, share the profits of the firm in predefined proportions, and have joint and several liability for the debts of the partnership.

An airline is a company that provides a regular service of air transportation for passengers or freight (cargo). Airlines use aircraft to supply these services. Many passenger airlines also carry cargo in the belly of their aircraft, while dedicated cargo airlines focus solely on freight transport. Generally, airline companies are recognized with an air operating certificate or license issued by a governmental aviation body. Airlines may be scheduled or charter operators.

Airline ownership has seen a shift from mostly personal ownership until the 1930s to government-ownership of major airlines from the 1940s to 1980s and back to large-scale privatization following the mid-1980s. Since the 1980s, there has been a trend of major airline mergers and the formation of partnerships or alliances for codeshare agreements, in which they both offer and operate the same flight. The largest alliances are Star Alliance, SkyTeam and Oneworld. Airline alliances coordinate their passenger service programs (such as lounges and frequent-flyer programs), offer special interline tickets and often engage in extensive codesharing (sometimes systemwide).

A legal entity is an entity that has legal personality, giving it legal rights and obligations including allowing it to enter into contracts, own property, and to sue and be sued. A legal entity may be created in order to engage in business activities, charitable work, or other activities. Most often, legal entities in business are formed to sell a product or a service. There are many types of legal entities defined in the legal systems of various countries. These may include corporations, cooperatives, charities, partnerships, sole traders and limited liability companies, although not all of these may be legal entities in all jurisdictions. The specific rules vary by country and by state or province. Some of these types are listed below, by country.

An unincorporated association refers to a group of people in common law jurisdictions—such as the United Kingdom, Canada, and New Zealand—who organize around a shared purpose without forming a corporation or similar legal entity. Unlike in some civil law systems, where associations gain legal personality upon registration, these groups lack such status and arise from contract rather than formal incorporation. They are distinct from partnerships because their members do not unite for profit. Easy to form with minimal formalities, unincorporated associations offer flexibility but no separate legal identity.

These associations require a contractual relationship—without it, a casual group like friends meeting regularly doesn’t qualify, no matter how often they gather. Under common law contract rules, they can even form unintentionally, as members may not realize their agreement creates an association. Often viewed as informal institutions, they aim for permanence and recognition apart from their individuals, spanning tiny groups (like an amateur football team splitting pitch costs) to vast organizations (like co-operatives, trade unions, or professional associations with thousands of members).