Company Formation

WHAT IS A COMPANY?

  • A Company is a voluntary association of person formed for the purpose of doing some business.
  • A company is a juristic person (in the eyes of law, it is a person).
  • The company can sue and it can be sued. It has its own name and a separate legal entity, distinct from its members who constitute it.
  • A company has its own property, the members (shareholders) cannot claim the property of the company as their own property.
  • A company is a legal person, but it is not a citizen. The liability of the members (shareholders) of the company is limited to the amount of shares they hold. Shares of a company are easily transferable. It means the business can be transferred from one hand to another without attracting and taxes and duties.

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