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Company
Generally, a company is a form of business organization. The precise definition varies.
In the United States, a company is "a corporation—or, less commonly, an association, partnership, or union—that carries on a commercial or industrial enterprise."[1] Generally, a company may be a "corporation, partnership, association, joint-stock company, trust, fund, or organized group of persons, whether incorporated or not, and (in an official capacity) any receiver, trustee in bankruptcy, or similar official, or liquidating agent, for any of the foregoing."
In English law, and therefore in the Commonwealth realms, a company is a form of body corporate or corporation, generally registered under the Companies Acts or similar legislation. It does not include a partnership or any other unincorporated group of persons. (
http://en.wikipedia.org/wiki/Company)
Company Limited
A limited company in the United Kingdom is a corporation whose liability is limited by law. There are three main types of limited companies which are set up by the Memorandum of Association & Articles of Association:
private company limited by shares (Ltd.)
private company limited by guarantee
public limited company (PLC).
A shareholder in a limited company, in the event of its becoming insolvent (equivalent to bankruptcy in the US) would be liable to contribute the amount remaining unpaid on the shares (usually zero, as most shares are issued fully paid). 'Paid' here relates to the amount paid to the company for the shares on first issue, and not to be confused with amounts paid by one shareholder to another to transfer ownership of shares between them. A shareholder is thus afforded limited liability.
(
http://en.wikipedia.org/wiki/Limited_company)