Company - Revision history

Doug: Improve linking.

2025-03-01T20:09:33Z

Improve linking.

← Older revision		Revision as of 20:09, 1 March 2025
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	* [[Companies Act]]		* [[Companies Act]]
	* [[Companies House]]		* [[Companies House]]
			* [[Companies registry]]
	* [[Company law]]		* [[Company law]]
			* [[Company secretary]]
			* [[Company voluntary arrangement]]
	* [[Corporate]]		* [[Corporate]]
	* [[Corporation]]		* [[Corporation]]

Doug: Layout.

2024-08-12T14:18:11Z

Layout.

← Older revision		Revision as of 14:18, 12 August 2024
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	If a share-issuing company has limited liability ("limited by shares") the liability of shareholders (members) is limited to the consideration paid to the company for issue of the shares - though if shares were issued "partly paid" (where the company can call for the balance at some later time) current shareholders remain liable up to the amount of any unpaid sum relating to the shares they hold.		If a share-issuing company has limited liability ("limited by shares") the liability of shareholders (members) is limited to the consideration paid to the company for issue of the shares - though if shares were issued "partly paid" (where the company can call for the balance at some later time) current shareholders remain liable up to the amount of any unpaid sum relating to the shares they hold.


	Companies do not necessarily issue shares. If the capital stock of a company is undivided, the benefit of ownership is for the benefit of members from time to time. A common way for such a company to achieve limited liability is to use a guarantee mechanism ("limited by guarantee"). (A share issuing company may be similarly limited, though this privilege was abolished in the UK in 1981.) Limitation by guarantee may be convenient for, among others, clubs and societies, professional bodies and public interest bodies generally. For example, in the UK the Financial Conduct Authority is constituted as a company limited by guarantee.		Companies do not necessarily issue shares. If the capital stock of a company is undivided, the benefit of ownership is for the benefit of members from time to time. A common way for such a company to achieve limited liability is to use a guarantee mechanism ("limited by guarantee"). (A share issuing company may be similarly limited, though this privilege was abolished in the UK in 1981.) Limitation by guarantee may be convenient for, among others, clubs and societies, professional bodies and public interest bodies generally. For example, in the UK the Financial Conduct Authority is constituted as a company limited by guarantee.

Doug: Add links.

2024-08-12T14:17:54Z

Add links.

← Older revision		Revision as of 14:17, 12 August 2024
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	In business, in UK and most Commonwealth English, "company" is taken to be a type of [[corporation]], an artificial legal person with a separate identity from its members and formed for business purposes. This sense is used in the rest of this entry. In US business English, this type of company is commonly called a "corporation".		In business, in UK and most Commonwealth English, "company" is taken to be a type of [[corporation]], an artificial legal person with a separate identity from its members and formed for business purposes. This sense is used in the rest of this entry. In US business English, this type of company is commonly called a "corporation".


	Companies in this sense may be established as any other [[corporation]] may be. Among other important benefits of the formation of and undertaking of business activities through a company are easier identification, succession or transfer of its assets or of its ownership, and the separation of day to day management from overall ownership and control.		Companies in this sense may be established as any other [[corporation]] may be. Among other important benefits of the formation of and undertaking of business activities through a company are easier identification, succession or transfer of its assets or of its ownership, and the separation of day to day management from overall ownership and control.


	Law and regulation relating to companies varies in detail from jurisdiction to jurisdiction. Do not assume that the same words mean the same thing in another jurisdiction.		Law and regulation relating to companies varies in detail from jurisdiction to jurisdiction. Do not assume that the same words mean the same thing in another jurisdiction.
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	Companies may in most countries have a choice of being of unlimited or limited liability - that is to say the creditors may or many not have access to the assets of the company's owners in case of default by the company. While today, most companies take advantage of the availability of the privilege of limited liability (i.e. are "limited companies"), unlimited liability companies are also established.		Companies may in most countries have a choice of being of unlimited or limited liability - that is to say the creditors may or many not have access to the assets of the company's owners in case of default by the company. While today, most companies take advantage of the availability of the privilege of limited liability (i.e. are "limited companies"), unlimited liability companies are also established.


	In some cases taxation authorities will "look through" the unlimited company and tax the owners, not the company. This offsets the disadvantage of the parent undertakings' being potentially liable for the company's debts. In US parlance, such companies are "flow-through" companies. Another advantage of unlimited status is seen in the European Union where such companies may not have to publish statutory accounts and this may be used to keep private the assets or profitability of multi-national groups' companies in individual EU member States.		In some cases taxation authorities will "look through" the unlimited company and tax the owners, not the company. This offsets the disadvantage of the parent undertakings' being potentially liable for the company's debts. In US parlance, such companies are "flow-through" companies. Another advantage of unlimited status is seen in the European Union where such companies may not have to publish statutory accounts and this may be used to keep private the assets or profitability of multi-national groups' companies in individual EU member States.
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	The ownership of companies may be divided into and constituted by shares, each of which may be transferred separately. Though today such records are mostly maintained electronically, owners of the company may be given share certificates (US: "stock certificates") testifying to their fractional ownership. The accounting value of all the shares issued by a company is called its share capital (historically called "capital stock").		The ownership of companies may be divided into and constituted by shares, each of which may be transferred separately. Though today such records are mostly maintained electronically, owners of the company may be given share certificates (US: "stock certificates") testifying to their fractional ownership. The accounting value of all the shares issued by a company is called its share capital (historically called "capital stock").


	If a share-issuing company has limited liability ("limited by shares") the liability of shareholders (members) is limited to the consideration paid to the company for issue of the shares - though if shares were issued "partly paid" (where the company can call for the balance at some later time) current shareholders remain liable up to the amount of any unpaid sum relating to the shares they hold.		If a share-issuing company has limited liability ("limited by shares") the liability of shareholders (members) is limited to the consideration paid to the company for issue of the shares - though if shares were issued "partly paid" (where the company can call for the balance at some later time) current shareholders remain liable up to the amount of any unpaid sum relating to the shares they hold.
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	* [[Associated company]]		* [[Associated company]]
	* [[Board of directors]]		* [[Board of directors]]
			* [[Business]]
	* [[Certificate of incorporation]]		* [[Certificate of incorporation]]
	* [[Companies Act]]		* [[Companies Act]]
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	* [[Multinational corporation/company]]		* [[Multinational corporation/company]]
	* [[Objects clause]]		* [[Objects clause]]
			* [[Organisation]]
	* [[Partnership]]		* [[Partnership]]
	* [[Private company]]		* [[Private company]]
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	* [[Veil of incorporation]]		* [[Veil of incorporation]]

			[[Category:Compliance_and_audit]]
	[[Category:The_business_context]]		[[Category:The_business_context]]
	~~[[Category:Compliance_and_audit]]~~

imported>Doug Williamson: Add link.

2022-07-16T16:07:21Z

Add link.

← Older revision		Revision as of 16:07, 16 July 2022
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	* [[Limited liability]]		* [[Limited liability]]
	* [[Limited liability partnership]]		* [[Limited liability partnership]]
			* [[Listed company]]
	* [[Mid-sized companies]]		* [[Mid-sized companies]]
	* [[Multinational corporation/company]]		* [[Multinational corporation/company]]

imported>Doug Williamson: Add links.

2022-07-10T20:35:50Z

Add links.

← Older revision		Revision as of 20:35, 10 July 2022
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	* [[Legal personality]]		* [[Legal personality]]
	* [[Limited liability]]		* [[Limited liability]]
			* [[Limited liability partnership]]
	* [[Mid-sized companies]]		* [[Mid-sized companies]]
	* [[Multinational corporation/company]]		* [[Multinational corporation/company]]
	* [[Objects clause]]		* [[Objects clause]]
			* [[Partnership]]
	* [[Private company]]		* [[Private company]]
	* [[Proxy]]		* [[Proxy]]
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	* [[Shareholder]]		* [[Shareholder]]
	* [[Small and Medium-sized Enterprises]]		* [[Small and Medium-sized Enterprises]]
			* [[Sole trader]]
	* [[Statutory company]]		* [[Statutory company]]
			* [[Unincorporated]]
	* [[Veil of incorporation]]		* [[Veil of incorporation]]

	[[Category:The_business_context]]		[[Category:The_business_context]]
	[[Category:Compliance_and_audit]]		[[Category:Compliance_and_audit]]

imported>Doug Williamson: Add links.

2020-12-18T21:23:12Z

Add links.

← Older revision		Revision as of 21:23, 18 December 2020
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	* [[Corporation]]		* [[Corporation]]
	* [[Corporation Tax]]		* [[Corporation Tax]]
			* [[Dissolution]]
	* [[Firm]]		* [[Firm]]
	* [[Group]]		* [[Group]]
			* [[Incorporation]]
	* [[Legal personality]]		* [[Legal personality]]
	* [[Limited liability]]		* [[Limited liability]]

imported>Doug Williamson: Link with Company law page.

2017-09-04T20:15:22Z

Link with Company law page.

← Older revision		Revision as of 20:15, 4 September 2017
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	* [[Companies Act]]		* [[Companies Act]]
	* [[Companies House]]		* [[Companies House]]
			* [[Company law]]
	* [[Corporate]]		* [[Corporate]]
	* [[Corporation]]		* [[Corporation]]

imported>Doug Williamson: Add link.

2016-06-25T14:06:06Z

Add link.

← Older revision		Revision as of 14:06, 25 June 2016
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	* [[Public company]]		* [[Public company]]
	* [[Quorum]]		* [[Quorum]]
			* [[Shareholder]]
	* [[Small and Medium-sized Enterprises]]		* [[Small and Medium-sized Enterprises]]
	* [[Statutory company]]		* [[Statutory company]]

imported>Doug Williamson: Simplify sentence.

2016-01-17T21:57:55Z

Simplify sentence.

← Older revision		Revision as of 21:57, 17 January 2016
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	The ownership of companies may be divided into and constituted by shares, each of which may be transferred separately. Though today such records are mostly maintained electronically, owners of the company may be given share certificates (~~historically and current~~ US: "stock certificates") testifying to their fractional ownership. The accounting value of all the shares issued by a company is called its share capital (historically called "capital stock").		The ownership of companies may be divided into and constituted by shares, each of which may be transferred separately. Though today such records are mostly maintained electronically, owners of the company may be given share certificates (US: "stock certificates") testifying to their fractional ownership. The accounting value of all the shares issued by a company is called its share capital (historically called "capital stock").

	If a share-issuing company has limited liability ("limited by shares") the liability of shareholders (members) is limited to the consideration paid to the company for issue of the shares - though if shares were issued "partly paid" (where the company can call for the balance at some later time) current shareholders remain liable up to the amount of any unpaid sum relating to the shares they hold.		If a share-issuing company has limited liability ("limited by shares") the liability of shareholders (members) is limited to the consideration paid to the company for issue of the shares - though if shares were issued "partly paid" (where the company can call for the balance at some later time) current shareholders remain liable up to the amount of any unpaid sum relating to the shares they hold.

imported>Doug Williamson: Link with Group page.

2015-08-13T18:47:01Z

Link with Group page.

← Older revision		Revision as of 18:47, 13 August 2015
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	* [[Corporation Tax]]		* [[Corporation Tax]]
	* [[Firm]]		* [[Firm]]
			* [[Group]]
	* [[Legal personality]]		* [[Legal personality]]
	* [[Limited liability]]		* [[Limited liability]]