Definition of Company

The term company is taken from the Latin word

where-“Com” means together ,panis means bread which
refers that an association of peoples take their bread
together. It means the association of peoples who
contribute capital and employee common purpose
(profit ).The companies acts passed time to time in India
and followed by English companies act with certain
modification which suit Indian Condition. Corporate law
is a body of law which govern and determine rights,
relations and conduct of persons, companies and
organization. It deal with the legal aspects of
corporations.

Meaning:- According to Section2(20) of the companies

act 2013 define a company as, “A company incorporate
under this act or under any previous company law”.
Lindleys’s L.J. defines a company as, “an association of
many person who contribute money or money’s worth to
a common stock , and employ it in some common trade or
business (i.e. , for a common purpose), and who share the
profit or loss(as the case may be) arising there from. The
common stock so contributed is donated in money and is
the capital of the company. The person who contribute it,
or to whom it belongs, are members. The proportion of
capital to which each member is entitled is his share .
Shares are always transferable although the right to
transfer them is often more or less restricted.”

Chief Justice Marshall Of USA defined company “as a

person , artificial ,invisible ,intangible and existing only
in the eyes of the law .Being a mere creation of law it
possesses only those properties which the charter of it
creation confers upon it either expressly or as accidental
to its very existence.”