Companies is a form of business organization is referred to as a company. However the exact definition varies. According to the United States, a corporation or an association or a partnership that is carrying out an industrial enterprise can be called a company. A corporate body, which is registered under the Companies act 1956 or any other similar legislation, is recognized as a company according to the English Law. 

The various types of company that is surmised under the different jurisdiction are Company limited by guarantee, which is forced for non-commercial purposes and the members guarantee the payment if it decides to go into insolvent liquidation. The form of company most commonly used in business ventures is company limited by shares. Unlimited liability of the members for the debts of the company is seen in unlimited liability company, whereas limited liability is a characteristic of the limited liability company. rare form of company formed by a private statute which has been passed in relevant jurisdiction is known as statutory company.