-Regulation: act of regulating by a rule of conduct or order usually issued by a government

agency or established authority having the force of law

-Business entity: legally recognized organizational structure designed to provide and sells goods
and services
-Company: (UK) institution created to conduct business, usually an association of person. It
exists as a separate legal entity from the owners (share holders). In common usage, it is
sometimes used just to refer to a business
-Shareholding members: those who invest money in a business entity and receive shares in
return representing a proportional ownership
-Limited liability: limitation of an owner/investor’s financial or responsibility, usually limited to
the value od a person’s investment in a company or partnership
-Personality: sometimes called an artificial person or legal entity/person. It is legal fiction of
identity in law which allows natural persons to act as if they were a single composite individual
for certain purpose such as creating a business entity or structure. It has legal rights, duties and
obligations
-Sole proprietor: single person who earns all the profit and is personally liable for all the debts
or losses of business structure
-Publicly listed company: business structure which is permitted to offer its shares for sale to
the general public and traded on the public stock exchange
-Shareholder: owners of a share of a company/corporations through a proportionate
ownership interest of a stock or equity
-Board of directors: group of individuals elected by shareholders to make the major decisions
of the company
-Creditors: person or company who is owned a financial obligation
-Third parties: person who is not party to an agreement or an action but who may have an
interest in it
-Company formation: process of registering a company. Companies can be created by
individuals, agents, attorneys or accountants. The majority of companies formed in the UK and
the USA today are formed electronicall
-Certificate of incorporation: document issued by a governmental authority granting a
company status as a legal entity
-Constitutional documents: document with define the existence of a legal entity and regulate
the structure and control of the entity and its members. The exact form of the constitution
-Statutory forms (stature): standardized documents of basic corporate constitution
requirements, which a company may adopt in the creation of a company. These help define the
existence of the company, regulate the legal and financial structure and control of the
company, and organize the company’s internal affairs and management
-File: to deliver a document to the custody or records of a court or proper authorities for the
purpose of being kept as a matter of record and reference
-Memorandum of association: (UK) legal document that sets out the important elements of the
corporation, including it’s name, address, objects and powers. It is one of the two fundamental
documents upon which registration of a company is based on (US articles of incorporation)
-Articles of association: (UK) document that defines a company’s internal organization (US
bylaws)
-Corporate personally: the existence of a company as a legal person
-Corporate rights: the rights that a corporate has, also the protections offered to corporations,
also includes the rights and privileges offered to corporations by the law or the states
-Business vehicle: the types of business entity
-A stakeholder: someone with a direct interest, investment or involvement in a business, such
as shareholder, employer, suppler or customer
-A non-affiliated stakeholders: is not directly controlled by or join to the business in question,
so is limited to customers, suppliers and other independent people affected by the activities of
the business, such as neighbors