"Company": In business, in UK and most Commonwealth English, 'company' is taken to be a type of corporation, an artificial legal person with a separate identity from its members and formed for business purposes. In US business English, this type of company is commonly called a 'corporation'. Important benefits of the formation of and undertaking of business activities through a company include: easier identification, succession or transfer of its assets or of its ownership, and the separation of day to day management from overall ownership and control. Law and regulation relating to companies varies in detail from jurisdiction to jurisdiction.
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