A company can be defined as " An artificial being, intangible, invisible, but existing in contemplation of law". According to company ordinance 1984, " A business registered under company ordinance 1984 is a company"
Corporations have neither bodies to be punished nor souls to be condemned. They, therefore, do as they like" says Henry David Thoreau.
A company may also be defined as any business that issues shares the liability to which is limited.
A company is an artificial or unreal being but unlike partnership and sole proprietorship can enter in to agreement, can sue, can be sued, can borrow, all in its own name. It is not run by its unlimited number of owners known as shareholders. It management is run by the board of directors who are elected from among its numerous shareholders on the basis of share holdings. Owners holding a majority of shares ( at least 51 percent of the total share capital) reach the board. The ownership of the company is transferable. The Ownership is expressed by the number of shares held.
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