company

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Company

An organization of individuals conducting a commercial or industrial enterprise. A corporation, partnership, association, or joint stock company.

company

n. any formal business entity for profit which may be a corporation, a partnership, association or individual proprietorship. Often people think the term "company" means the business is incorporated, but that is not true. In fact, a corporation usually must use some term in its name such as "corporation," "incorporated," "corp." or "inc." to show it is a corporation. (See: business)

company

(Assemblage), noun aggregation, assembled body, assemblée, assembly, attroupement, caucas, coalition, conclave, conference, confluence, conflux, congregation, convention, convergence, convocation, crowd, group, ingathering, league, meeting, mustering, societas

company

(Enterprise), noun association, body corpooate, business, business establishment, coetus, combination, commercial enterprise, concern, confederacy, consociation, copartnership, corporate body, corporation, establishment, federation, firm, grex, guild, institute, joint concern, partnership
Associated concepts: affiliated company, company union, construction company, corporation, holding company
See also: alliance, assemblage, assembly, association, body, business, collection, concern, corporation, enterprise, firm, house, organization, personnel, syndicate

company

an association of persons formed for the purpose of some business or undertaking, which has a legal personality separate from that of its members. A company may be formed by charter, by special Act of Parliament or by registration under the Companies Acts. The liability of members is usually (but not always) limited by the charter, Act of Parliament or memorandum of association. A company may be a public limited company (PLC or plc), in which event its shares may be transferred freely among, and owned by, members of the public. All limited liability companies that are not public limited companies are private companies, denoted by the term Ltd. While companies are owned by their members (i.e. shareholders), they are managed by a board of directors. Historically, the duties owed by the board are fiduciary in nature and owed to the company rather than the shareholders. Companies are the major instrument for economic and financial growth and development in the Western world. A limited company encourages trade to the extent that in the event of insolvency the owners are liable only to the extent of their unpaid share capital. The limited company is a legal person in its own right and is sued in place of the owners or directors.

A company may be limited by shares or, in the case of a private company, by guarantee. Since the Companies Act 1980, it is no longer possible to create a company limited by guarantee and having a share capital in the UK. A company limited by guarantee is a company that has the liability of its members limited by the memorandum of association to such an amount as the members may undertake to contribute to the assets of the company upon its being wound up. A company limited by shares is a company having the liability of its members limited by the memorandum of association to the amount, if any, unpaid on the shares respectively held by them.

COMPANY. An association of a number of individuals for the purpose of carrying on some legitimate business.
     2. This term is not synonymous with partnership, though every such unincorporated compass is a partnership.
     3. Usage has reserved this term to associations whose members are in greater number, their capital more considerable, and their enterprises greater, either on account of their risk or importance.
     4. When these companies are authorized by the government, they are known by the name of corporations. (q.v.)
     5. Sometimes the word is used to represent those members of a partnership whose names do not appear in the name of the firm; as, A.B & Company. Vide, 12 Toull. n, 97; Mortimer on Commerce, 128. Vide Club; Corporation; Firm; Parties to actions; Partnership.

References in classic literature ?
He wandered all day through the buildings; and in a week or two, when he had been all over the yards, and into every room to which he had access, and learned that there was not a job anywhere, he persuaded himself that there might have been a change in the places he had first visited, and began the round all over; till finally the watchmen and the "spotters" of the companies came to know him by sight and to order him out with threats.
Upon this consideration our superiors divided the eight Jesuits chosen for this mission into two companies.
Soon afterwards, Holmes took his telephones out of the banks, and started a real telephone business among the express companies of Boston.
We must organize companies with sufficient vitality to carry on a fight, as it is simply useless to get a company started that will succumb to the first bit of opposition it may encounter.
Don't think of it, your worship," returned Sancho; "take my advice and never meddle with actors, for they are a favoured class; I myself have known an actor taken up for two murders, and yet come off scot-free; remember that, as they are merry folk who give pleasure, everyone favours and protects them, and helps and makes much of them, above all when they are those of the royal companies and under patent, all or most of whom in dress and appearance look like princes.
A dozen keen-eyed bowmen were there, and among them some of the best fellows in the Forester's and Sheriff's companies.
A competition immediately ensued between the two companies for the trade with the mountain tribes and the trapping of the head-waters of the Columbia and the other great tributaries of the Pacific.
The American fur companies keep no established posts beyond the mountains.
The company commanders ran off to their companies, the sergeants major began bustling (the greatcoats were not in very good condition), and instantly the squares that had up to then been in regular order and silent began to sway and stretch and hum with voices.
Beginning with a raid on two steamship companies, it developed into a pitched battle with a city, a state, and a continental coastline.
Why, look you, in the affair at Brignais some four years back, when the companies slew James of Bourbon, and put his army to the sword, there was scarce a man of ours who had not count, baron, or knight.
Our little army, which consisted of two companies of foot, were now arrived at the place where they were to halt that evening.
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