company


Also found in: Dictionary, Thesaurus, Medical, Financial, Acronyms, Idioms, Encyclopedia, Wikipedia.

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 ?
I opened the door to the company - making believe that it was a habit of ours to open that door - and I opened it first to Mr.
Smell on, ye vultures, company by company, smell on
Yes, my noble friends," he continued, addressing the company, "l assure you that my adventures have been strange enough to deter even the most avaricious men from seeking wealth by traversing the seas.
Father Manuel Baradas and all the company, who had waited for us a considerable time on the top of the mountain, came down when they saw our tents, and congratulated our arrival.
It took action quickly and organized the "American Speaking-Telephone Company," with $300,000 capital, and with three electrical inventors, Edison, Gray, and Dolbear, on its staff.
Then turning abruptly the whole company plunged into the heart of the forest.
Similar facts were observed on the 23rd of July in the same year, in the Pacific Ocean, by the Columbus, of the West India and Pacific Steam Navigation Company.
Astor abandoned all thoughts of regaining Astoria, and made no further attempt to extend his enterprises beyond the Rocky Mountains; and the Northwest Company considered themselves the lords of the country.
To put an end to these sordid and ruinous contentions, several of the principal merchants of Montreal entered into a partnership in the winter of 1783, which was augmented by amalgamation with a rival company in 1787.
Lady Russell confessed she had expected something better; but yet "it was an acquaintance worth having;" and when Anne ventured to speak her opinion of them to Mr Elliot, he agreed to their being nothing in themselves, but still maintained that, as a family connexion, as good company, as those who would collect good company around them, they had their value.
So the soldiers, after a twenty-mile march, were kept mending and cleaning all night long without closing their eyes, while the adjutants and company commanders calculated and reckoned, and by morning the regiment- instead of the straggling, disorderly crowd it had been on its last march the day before- presented a well-ordered array of two thousand men each of whom knew his place and his duty, had every button and every strap in place, and shone with cleanliness.
And, completely to put the quietus on any last lingering hopes he might have had of her, he was in the thick of his spectacular and intensely bitter fight with the Coastwise Steam Navigation Company, and the Hawaiian, Nicaraguan, and Pacific-Mexican Steamship-Company.