Company
Company (kʌmp(ə)ni)
Company is a term used to refer to a legal entity formed by a group of individuals to engage in and operate a business—commercial, industrial, or professional—either in partnership with others or individually. The term company has its origins in the Old French term compaignie, which means "body of soldiers", and it was later adapted into English to mean "subdivision of an infantry regiment".
Etymology
The term company has its roots in the Old French term compaignie, which was used to refer to a "body of soldiers". This term was derived from the Late Latin word companio, which means "bread fellow, messmate". It was later adapted into English in the 13th century to mean "subdivision of an infantry regiment". By the 16th century, the term began to be used to refer to a "group of people" or "an association".
Related Terms
- Corporation: A corporation is a company or group of people authorized to act as a single entity (legally a person) and recognized as such in law.
- Partnership: A partnership is an arrangement where parties, known as business partners, agree to cooperate to advance their mutual interests.
- Sole Proprietorship: A sole proprietorship, also known as the sole trader, individual entrepreneurship or proprietorship, is a type of enterprise owned and run by one person and in which there is no legal distinction between the owner and the business entity.
- Limited Liability Company (LLC): A limited liability company (LLC) is the US-specific form of a private limited company. It is a business structure that can combine the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation.
External links
- Medical encyclopedia article on Company
- Wikipedia's article - Company
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