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A company is a legal entity created by law, having a separate legal personality distinct from its members. It is an artificial person, invisible and intangible, but recognized by law as capable of rights and obligations. A company comes into existence through registration under the Companies Act, 2013, and once incorporated, it enjoys perpetual succession, meaning its existence is not affected by changes in its membership. It can own property, enter into contracts, sue and be sued in its own name. The concept of a company is fundamental to modern commercial and economic activities as it facilitates large-scale business operations by pooling capital, limiting liability, and ensuring continuity. According to Section 2(20) of the Companies Act, 2013, a company means a company incorporated under this Act or under any previous company law. This definition highlights that incorporation ________ _________ ________ ________ __________ ______ _________ ________ _____ _________.
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