Corporation VS Company?

Elissa Curlin: In India if a company is registered under the Indian Companies Act, 1956, it can either be a private limited or public limited company and the suffix is likewise added to the company's legal name. E.g.: abc pvt. ltd. if its is a private company and abc limited if it is a public company.The term corporation is mostly used in govt. controlled Public Sector Undertakings e.g.s of which you have already mentioned in your querry. Although I'm not too sure why any private company or a public company other than PSUs do not have the word corporation in it. It would be advisable to consult a lawyer specializing in corporate law or a company secretary (who has a professional qualification from The Institute of Company Secretaries of India). Given below are some definitions of company and corporation.CORPORATION# a business firm whose articles of incorporation have been approved in some statewordnet.princeton.edu/perl/webwn# A corporation is a legal entity (distinct ! from a natural person) that often has similar rights in law to those of a natural person. Civil law systems may refer to corporations as "moral persons;" they may also go by the name "AS" (anonymous society) or something similar, depending on language (see below).en.wikipedia.org/wiki/Corporation# Corporation refers to all different kinds of fraternities and sororities worldwide.en.wikipedia.org/wiki/Corporation_(university)# In feudal Europe, corporations were aggregations of business interests in compact, usually with an explicit license from city, church, or national leaders. These functioned as effective monopolies for a particular good or labor.en.wikipedia.org/wiki/Corporation_(feudal_Europe)# a group of people granted a charter legally recognizing them as a separate entity having its own rights, powers, privileges and liabilities distinct and separate from those of its members.www.ots.treas.gov/glossary/gloss-c.htmlCOMPANYA company is, in general, any group of person! s united to pursue a common interest. The term is thus synonym! ous with association, but more often it is used specifically to identify associations formed for profit, such as the partnership, the joint-stock company, and the for-profit corporation. A company is not necessarily a corporation, and thus may not have a separate existence from its members. ...en.wikipedia.org/wiki/Company_(law)...Show more

Gaston Edgcomb: Corporation Vs Company

Reginald Maxi: You are wrong! A corporation can go bankrupt without getting its shareholders into trouble. But if the corporation do illegal stuff, the directors could be sued. As you should know, a corporation is just an artificial person. The corporation itself could not do anything illegal; it was the directors (or owner) who made the decisions. For example, the directors of a corporation presented a false income statement to the bank and obtained a loan for the corporation. A month later, the corporation declared bankruptcy. The bank could held the directors personally liable for the! debt. They could also be charged with fraud. Not all companies are corporations unless they are incorporated. It costs $500 to $1,000 to incorporate a company. A corporation has to file an annual report, that's all the cost you have to pay (in Canada)....Show more

Chris Coggins: This Site Might Help You.RE:Corporation VS Company?What si a difference between a corporation and a Company?We seee Life Insurance Corporation of India. Uranium Corporation of India, Electronics Corporation of India etc.But have never seen a Private corporation.Can a person establish and start a corporation? If so how what should he do for......Show more

Mack Ukich: A corporation is a legal entity. To form one, you'll need a lawyer and you'll need to follow the guidelines established by the state in which you live and intend to start your corporation. . .or company.