A company, abbreviated as co., is a legal organization representing, with a particular purpose, an association of persons, whether natural, legal, or a mixture of both. Members of the company share a common goal and unite to accomplish clear declared objectives.
Companies take different forms, such as voluntary groups that could include nonprofit organizations, business entities whose goal would be to gain the benefit, banks and financial institutions, and services or institutions of education. As a legal entity, a company may be formed such that the company itself has limited liability as members fulfill or fail to exercise their duty under the publicly proclaimed incorporation of written regulation. It will need to be liquidated when a business closes, to prevent more legal obligations. Companies may associate and collectively register themselves as new companies; the resulting entities are often known as corporate groups. A company is a corporation or corporate body licensed under the Companies Acts or under similar laws in English law and in legal jurisdictions dependent on it. In the United States, 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". Common types include companies limited by guarantee, companies limited by shares, companies limited by guarantee with a share capital, and limited liability corporations.
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