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A company is a body corporate or an incorporated business organization registered under the companies act. It can be a limited or an unlimited company, private or a public company, company limited by guarantee or a company having a share capital, or a community interest company.

Characteristics of a Company: 6 Features. A company is a voluntary association of persons, recognised by law, having a distinctive name, a common seal, formed to carry on business for profit, with capital divisible into transferable shares, limited liability, a corporate body and perpetual succession.

The most important feature of a company is that it is a separate legal entity different from the persons who constitute it. A company comes into existence when it receives the certificate of incorporation from the Registrar of Companies.

List of Feature of Company as per Indian Companies Act 1956 Incorporated Association. Separate Legal Entity. Limited Liability. Transferability of Shares. Perpetual Existence. Common Seal.

Separate Legal Entity: A company exists as a separate legal entity which is different from its shareholders and members. Due to this feature, shareholders can enter into a contract with the company and can also sue the company and be sued by the company.

Typically, there are four main types of businesses: Sole Proprietorships, Partnerships, Limited Liability Companies (LLC), and Corporations.

A company can 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?