What is a Company ?

The word company derived from the Latin word com and panis. Com means with or together and panis means bread. It originally referred to an association of person who took their meals together.

In legal sense, a company is an association of person (both artificial and natural). According to companies Act, 2013 a company means a company incorporated under this Act or under any previous company law.

A company is a combination of political, social, economical, and legal institution. Thus the term Company has been described in many ways. It is a means of cooperation and organization in the conduct of an enterprise. It is an intricate, centralized, economic and administrative structure run by professional managers who hire capital from the investors.

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