What is Company?

Legal Definition
A Company is a legal entity made up of an association of persons, be they natural, legal, or a mixture of both, for carrying on a commercial or industrial enterprise. 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 include 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.
-- Wikipedia
Legal Definition
Any form of business organization, most commonly a corporation, partnership, association, or fund, which engages in commercial activity for profit. A company can be its own legal entity with characteristics, liabilities and capacities distinct from those of its owners or members.
Legal Definition
An association of a number of individuals for the purpose of carrying on some legitimate business.

2. This term is not synonymous with partnership, though every such unincorporated compass is a partnership.

3. Usage has reserved this term to associations whose members are in greater number, their capital more considerable, and their enterprizes greater, either on account of their risk or importance.

4. When these companies are authorized by the government, they are known by the name of corporations. (q. v.)

5. Sometimes the word is used to represent those members of a partnership whose names do not appear in the name of the firm; as, A.B & Company. Vide, 12 Toull. n, 97; Mortimer on Commerce, 128. Vide Club; Corporation; Firm; Parties to actions; Partnership.
-- Bouviers Law Dictionary
Legal Definition
A society or association of persons, in considerable number, interested in a common object, and uniting themselves for the prosecution of some commercial or industrial underinking or other legitimate business. Mills v. State, 23 Tex. 303; Smith v. Janesville, 52 Wis. 680, 9 N. W. 789.' The proper signification of the word "company," when applied to persons engaged in trade, denotes those united for the same purpose or in a joint concern. It is so commonly used in this sense, or as indicating a partnership, that few persons accustomed to purchase goods at shops, Where they are sold by retnil, would misapprehend that such was its meaning. Palmer v. Pinkham, 33 Me. 32. Joint stock companies. Joint stock companies are those having a joint stock or capital, which is divided into numerous transferable shares, or consists of transferable stock. Lindl. Partm 6. The term is not identical with "partnership," although every unincorporated society is, in its legal relations, a partnership. In common use a distinction is made, the name "partnership" being reserved for business associations of a limited number of persons (usually not more than four or five) trading under a name composed of their individual names set out in succession; while "company" is appropriated as the designation of a society comprising a larger number of persons, with greater capital, and engaged in more extensive enterprises, and trading under a title not disclosing the names of the individuals. See Allen v. Long, SO Tex. 261, 16 S. W. 43, 26 Am. St. Rep. 735; Adams Exp. Co., v. Schofield, 111 Ky. 832, 64 S. W. 903; Kossakowski v. People, 177 111. 563, 53 N. E. 115; In re Jones, 28 Misc. Rep. 356, 59 N. Y. Supp. 983; Attorney General v. Mercantile Marine Ins. Co., 121 Mass. 525. Sometimes the word is used to represent those members of a partnership whose names do not appear in the name of the firm. See 12 Toullier, 97.
See also
-- Black's Law Dictionary
Legal Definition
A union of two or more persons for the carrying on of a joint enterprise or business; a partnership; a corporation; an association.
-- Ballentine's Law Dictionary