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A company is a form of business organization. In the United States, a company is a corporation—or, less commonly, an association, partnership, or union—that carries on an industrial enterprise."[1] Generally, a company may be a "corporation, partnership, association, joint-stock company, trust, fund, or organized group of persons, whether incorporated or not, and (in an official capacity) any receiver, trustee in bankruptcy, or similar official, or liquidating agent, for any of the foregoing."[1] In English law, and therefore in the Commonwealth realms, a company is a form of body corporate or corporation, generally registered under the Companies Acts or similar legislation. It does not include a partnership or any other unincorporated group of persons. The word company is traced from a 1150 A.D. O.Fr. term compaignie or "body of soldiers" and from L.L. companio (companion). The word's meaning of "subdivision of an infantry regiment" is from 1590. The use of the word in a sense of "business association" was first recorded 1553, having earlier been used in reference to trade guilds (1303). The abbreviation co. dates from 1769.[2] In short, a company can be defined as an artificial person having a separate legal entity, perpetual succession and a common seal.It is not affected by the death,lunacy or insolvency of a member.
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