the term existing company has been defined as a company formed and registered under any of the previous companies acts.
A voluntary association formed and organized to carry on a business. Types of companies include sole proprietorship, partnership, limited liability, corporation, and public limited company.
A company is an association or collection of individuals, whether natural persons, legal persons, or a mixture of both. Company members share a common purpose and unite in order to focus their various talents and organize their collectively available skills or resources to achieve specific, declared goals. Companies take various forms such as:
Voluntary associations which may be registered as a nonprofit organization
A group of soldiers
Business entities with an aim of gaining a profit
Financial entities and banks
A company or association of persons can be created at law as legal person so that the company in itself can accept Limited liability for civil responsibility and taxation incurred as members perform (or fail) to discharge their duty within the publicly declared "birth certificate" or published policy.
Because companies are legal persons, they also may associate and register themselves as companies - often known as a corporate group. When the company closes it may need a "death certificate" to avoid further legal obligations.
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