CLAT PG Exam > CLAT PG Notes > Company Law > Meaning of a Company
Meaning of a Company | Company Law - CLAT PG PDF Download
Meaning
- The term 'company' comes from the Latin words 'com' meaning 'with' or 'together' and 'panis' meaning 'bread.' Originally, it referred to a group of people who shared meals together.
- In the past, merchants used festive gatherings as opportunities to discuss business matters.
- Today, business discussions have become more complex and are no longer suited for festive occasions, leading to the increased significance of the company as a form of organization.
Definition
- A company is a corporate body and a legal person with a status and personality that is distinct and separate from its members.
- It is called a body corporate because the individuals making it up are united into one body through legal incorporation, which gives it legal personality.
- The term ‘corporation’ comes from the Latin word ‘corpus,’ meaning ‘body.’ A corporation is a legal person created through a process other than natural birth, which is why it is sometimes referred to as an artificial legal person.
- As a legal person, a corporation has many of the same rights and liabilities as a natural person.
Question for Meaning of a CompanyTry yourself: What does the term 'corporation' refer to in the context of a company?View Solution
Types of Incorporated Companies
An incorporated company is created either by a special Act of Parliament or through company law.
Public Corporations
- Examples: Life Insurance Corporation of India, State Bank of India (SBI).
- These corporations are established by special Acts of Parliament.
Companies
- Examples: Tata Steel Ltd., Reliance Industries Limited.
- These companies are formed under company law, specifically the Companies Act.
- The Companies Act, 1956, has been replaced by the Companies Act, 2013.
The document Meaning of a Company | Company Law - CLAT PG is a part of the CLAT PG Course Company Law.
All you need of CLAT PG at this link: CLAT PG
|
51 docs
|
FAQs on Meaning of a Company - Company Law - CLAT PG
| 1. What is the legal definition of a company in the context of CLAT PG? |  |
Ans. A company is defined as a legal entity that is distinct from its owners, created under the Companies Act, which can enter into contracts, hold assets, and incur liabilities. It is recognized by law and has its own rights and obligations.
| 2. What are the different types of incorporated companies? | |
Ans. There are several types of incorporated companies, including private limited companies, public limited companies, and one-person companies. Each type has distinct features regarding ownership, liability, and regulatory requirements.
| 3. What is the process of incorporation for a company? | |
Ans. The process of incorporation involves selecting a company name, preparing the memorandum and articles of association, filing necessary documents with the Registrar of Companies, and obtaining a certificate of incorporation, which officially creates the company.
| 4. What are the advantages of forming an incorporated company? | |
Ans. The advantages include limited liability for shareholders, perpetual succession, easier access to capital through share issuance, and enhanced credibility in the eyes of investors and customers, which can facilitate business operations.
| 5. How does the concept of limited liability protect the owners of a company? | |
Ans. Limited liability protects the owners by ensuring that their personal assets are not at risk for the company's debts and obligations. Shareholders are only liable to the extent of their investment in the company, which safeguards their personal finances from business losses.
Related Exams
About this Document
|
4.62/5 Rating |
|
Dec 25, 2024 Last updated |
Document Description: Meaning of a Company for CLAT PG 2024 is part of Company Law preparation.
The notes and questions for Meaning of a Company have been prepared according to the CLAT PG exam syllabus. Information about Meaning of a Company covers topics
like Meaning, Definition, Types of Incorporated Companies and Meaning of a Company Example, for CLAT PG 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises and tests below for Meaning of a Company.
Introduction of Meaning of a Company in English is available as part of our Company Law
for CLAT PG & Meaning of a Company in Hindi for Company Law course.
Download more important topics related with notes, lectures and mock test series for CLAT PG
Exam by signing up for free. CLAT PG: Meaning of a Company | Company Law - CLAT PG
Description
Full syllabus notes, lecture & questions for Meaning of a Company | Company Law - CLAT PG - CLAT PG | Plus excerises question with solution to help you revise complete syllabus for Company Law | Best notes, free PDF download
Information about Meaning of a Company
In this doc you can find the meaning of Meaning of a Company defined & explained in the simplest way possible. Besides explaining types of
Meaning of a Company theory, EduRev gives you an ample number of questions to practice Meaning of a Company tests, examples and also practice CLAT PG
tests
|
Explore Courses for CLAT PG exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
Related Searches
Summary
,Sample Paper
,study material
,ppt
,past year papers
,Viva Questions
,Important questions
,video lectures
,MCQs
,Meaning of a Company | Company Law - CLAT PG
,Extra Questions
,Meaning of a Company | Company Law - CLAT PG
,Meaning of a Company | Company Law - CLAT PG
,Objective type Questions
,Exam
,practice quizzes
,shortcuts and tricks
,mock tests for examination
,Semester Notes
,Previous Year Questions with Solutions
,Free
;
Additional Information about Meaning of a Company for CLAT PG Preparation
Meaning of a Company Free PDF Download
The Meaning of a Company is an invaluable resource that delves deep into the core of the CLAT PG exam.
These study notes are curated by experts and cover all the essential topics and concepts, making your preparation more efficient and effective.
With the help of these notes, you can grasp complex subjects quickly, revise important points easily,
and reinforce your understanding of key concepts. The study notes are presented in a concise and easy-to-understand manner,
allowing you to optimize your learning process. Whether you're looking for best-recommended books, sample papers, study material,
or toppers' notes, this PDF has got you covered. Download the Meaning of a Company now and kickstart your journey towards success in the CLAT PG exam.
Importance of Meaning of a Company
The importance of Meaning of a Company cannot be overstated, especially for CLAT PG aspirants.
This document holds the key to success in the CLAT PG exam.
It offers a detailed understanding of the concept, providing invaluable insights into the topic.
By knowing the concepts well in advance, students can plan their preparation effectively.
Utilize this indispensable guide for a well-rounded preparation and achieve your desired results.
Meaning of a Company Notes
Meaning of a Company Notes offer in-depth insights into the specific topic to help you master it with ease.
This comprehensive document covers all aspects related to Meaning of a Company.
It includes detailed information about the exam syllabus, recommended books, and study materials for a well-rounded preparation.
Practice papers and question papers enable you to assess your progress effectively.
Additionally, the paper analysis provides valuable tips for tackling the exam strategically.
Access to Toppers' notes gives you an edge in understanding complex concepts.
Whether you're a beginner or aiming for advanced proficiency, Meaning of a Company Notes on EduRev are your ultimate resource for success.
Meaning of a Company CLAT PG Questions
The "Meaning of a Company CLAT PG Questions" guide is a valuable resource for all aspiring students preparing for the
CLAT PG exam. It focuses on providing a wide range of practice questions to help students gauge
their understanding of the exam topics. These questions cover the entire syllabus, ensuring comprehensive preparation.
The guide includes previous years' question papers for students to familiarize themselves with the exam's format and difficulty level.
Additionally, it offers subject-specific question banks, allowing students to focus on weak areas and improve their performance.
Study Meaning of a Company on the App
Students of CLAT PG can study Meaning of a Company alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the Meaning of a Company,
students can also utilize the EduRev App for other study materials such as previous year question papers, syllabus, important questions, etc.
The EduRev App will make your learning easier as you can access it from anywhere you want.
The content of Meaning of a Company is prepared as per the latest CLAT PG syllabus.
|
© EduRev
|
Education Revolution
|
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup