Company

An artificial legal person with a separate identity from its members.

Among other important benefits, undertaking business activities through a company enables the separation of day to day management from overall ownership and control, the easier transfer of ownership rights (in the form of shares), and limited liability for the shareholders.

In the US more commonly - though not always - known as a 'corporation'.

See also

• Associated company
• Board of directors
• Certificate of incorporation
• Companies Act
• Companies House
• Corporate
• Corporation
• Corporation Tax
• Firm
• Legal personality
• Limited liability
• Multinational corporation/company
• Objects clause
• Private company
• Proxy
• Quorum
• Small and Medium-sized Enterprises
• Statutory company
• Veil of incorporation