company(redirected from Company (law))
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Any organization that engages in business. There are many different structures a company can have, depending primarily on tax considerations and the type of business it does. Among some of the more prominent examples are a sole proprietorship, where an individual works on his/her own and all income is reported as personal income; a partnership, where two or more people create an organization partially distinct from each and where each partner has his/her own role; and a corporation, which is separate and distinct from its owners and is often a legally recognized person. See also: Limited liability company, Publicly-traded company.