What is a company? - Legal English

A company is regarded in law as being a separate legal ‘person’, with a separate legal personality. This means that it has rights separate from its owners and managers to enter into contracts, employ people, own property and conduct business.

A company can be a private or a public company. A public company may offer its shares for sale to the public whereas a private company may not.

Moreover, business or commercial law the entire body of substantive law applicable to the rights and duties of persons engaged in commerce or mercantile pursuits

By far the largest number of incorporated companies are incorporated with limited liability.

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