The document defines and describes different types of companies. It states that a company is an artificial person created by law, with separate legal existence and perpetual succession. It then explains the key characteristics of companies, including limited liability and transferability of shares. The document goes on to define and differentiate between incorporated companies, chartered companies, statutory companies, registered companies, companies limited by shares or guarantee, public and private companies, and unincorporated companies.

1.  A company is an
artificial person
created by law. It has
separate legal
existance,perpetu-al
succession and
common seal.

2.  As per sec 2(20) of the companies Act 2013
‘company’ means a company is an artificial
person created by law having “ separate
identity” and” perpetual succession”.

3. The main characteristics of the company
 Artificial person
 Separate legal entity
 perpetual succession
 limited liability
 transferability of shares
 common seal
 separate property

5. Companies
Incorporated
Chartered
Companies
Statutory
Companies
Registered
Companies
Companies
limited by
shares
Public Private
Companies
Limited By
Guarantee
Public Private
Unlimited
Companies
Public Private
Unincorporated

6.  These are the company association of person
who contribute money to a common stock
knows as capital of the company. They have
existance independent of its members.

7.  These are the collection of person
who have agreed to join in
partnership to run a business and
share the profit.

8.  Chartered companies-companies set up as a result of
royal charted granted by king or queen of a country are know as
chartered companies. Example east india company, bank of
england etc
 Statutary companies:- companies set by special
act of parliament or state legislatures are called statutary
companies.Example life insurance corporation of india, reserve
bank of india etc
 Registered companies: companies registered
under the indian company ACT,2013 or under any of the previous
companies act are called as registered companies.

9.  Companies limited by share:- It is a company
where the liability of the shareholder remain
limited to the nominal value of the share held him.
 Companies limited by Guarantee:- In a guarantee
company the liability of a shareholder is limited to the amount he
has voluntarily undertaken to contribute toward the assets of the
company to meet out any deficiency at the time of it winding up.
Such a company may or may not have a share capital.
 Unlimited companies:- Here the liability of its members is
unlimited .In other word, their liability extends to their private
properties also.unlimited companies are almost non-existent
these day.

10.  A company which has a minium paid up capital of rs
100,000 or such higher paidup capital as may be
prescribed , and by its articles
 Restricts the right to transfer its shares , if any
 Limits the number of its members to 50.
 does not invite the general public to subscribe to its share
or debentures.

11. A Public company is a company which:
 Has a minimum paid up capital of RS 5 lakh or such higher
paidup capital,as may be prescribe.
 does not put any restriction on the transfer of its share;
 invite the general public to suscribe to its share and
debentures.