The company is the most common form of business organization in the world. The company is chartered by a state and it is given legal rights as a legal entity separate from its owners. This form of business is featured by the limited liability of its owners through shares. 
 
The process of becoming corporate, also known as incorporation separates legal standing from its owners and protects those owners from being personally liable in the event that the company is being sued or insolvent.


A company is an association or collection of individual real persons or other companies, who provide some form of capital for a common purpose and aim at gaining profit. A company like any person has legal personality rights expect death, which is for real person.


The most important features of the company include registered body, distinctive legal entity, artificial person and perpetual succession. Other important features of the company are a common seal, limited liability, and transfer ability of shares.