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...Bmscw department of commerce unit formation company introduction the word is derived from latin com which means together and panies bread a thus an association persons who took their meal in simple language term formed for some common purpose when few form business profit it called joint stock forming are shareholders liability members usually limited meaning artificial person created by law having separate legal entity with perpetual succession seal definition according to section companies act registered under or existing any previous incorporated lord justice lindley voluntary many contribute money s worth employs trade share loss arising there features organization no can be compelled become member give up membership registration only but public at least seven private two necessary on incorporation that becomes body corporate gets acquire dispose property enter into contract third parties its own name sue sued acts through board directors elected has distinct independent regarded a...