Define the term “company”. Distinguish it from, partnership and limited liability partnership.

Company:

A company is a legal entity formed by a group of individuals or entities to engage in business activities. It is considered a separate legal entity distinct from its owners, known as shareholders or members. Companies can be classified into different types based on their structure and ownership, such as:

1. Private Limited Company: This type of company restricts the transferability of shares and limits the number of shareholders to a maximum of 50. It is often preferred by small to medium-sized businesses due to its ease of formation and limited liability protection.

2. Public Limited Company: Unlike a private limited company, a public limited company can offer shares to the public and can ______ ________ ____ ___ ________ __________.
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