A Company is a legal person or a legal entity that has special features specified under the law. A company is a legal entity. It also helps in meeting the economic ends of a country. It can be considered as a social, economic and legal entity of a country.
A company has certain rights, obligations and duties recommended by law. It possesses the powers conferred by the Memorandum of Association. Within the limits prescribed it can perform the rights as a corporate personality.
The main characteristics of a company are discussed below:
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