Question

What is company? Write the various types of company?

Answer 1

Companies can be classified into different types based on their mode of incorporation, the liability of the members, and number of the members. The most common types of companies are: Royal Chartered Companies.

Answer 2

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Company refers to a group of people working together to achieve something like, developing a software as a team, running hotels etc. Legally a company needs to be registered as private limited or partnership firm.

Types Of Companies

Based On The Number Of Members

• Public Limited Company
• Private Limited Company
• One Person Company

Based On The Liability Of The Members

• Companies Limited By Shares
• Companies Limited By Guarantee
• Unlimited Company

Based On The Mode of Incorporation

• Chartered Or Royal Chartered Companies
• Registered Or Incorporated Companies
• Unregistered Company
• Other Types
• Limited Liability Company (LLC)
• Business Corporation
• Government Company