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WHAT IS A COMPANY?

Return: Business Law

A company is a legal structure where persons come together for the purpose of a business venture carried on in the name of the company. Such a union of persons is incorporated as a legal entity and one of the advantages is that it enjoys limited liability and perpetual successions, i.e. that it may live forever.

A company can sue and be sued. Any assets owned by the company are registered in the name of the company and not in the name of the individ uals and it is a legal entity separate from its individual components and is governed by the company law legislation.

 

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