Any form of business organization, most commonly a corporation, partnership, association, or fund, which engages in commercial activity for profit. A company can be its own legal entity with characteristics, liabilities and capacities distinct from those of its owners or members.
Definition from Nolo’s Plain-English Law Dictionary
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.
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:13 pm