3) Define a company
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A company is a voluntary association of persons recognised by law, having a distinctive name and common seal, formed to carry on business for profit, with capital divisible into transferable shares, limited liability, a corporate body and perpetual succession.
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A company is a legal entity formed by a group of individuals to engage in and operate a business—commercial or industrial—enterprise. ... The line of business the company is in will generally determine which business structure it chooses such as a partnership, proprietorship, or corporation.
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