| 单词 | company |
| 释义 | company company an association of persons formed for the purpose of some business or undertaking, which has a legal personality separate from that of its members. A company may be formed by charter, by spe- cial Act of Parliament or by registration under the Companies Acts. The liability of members is usually (but not always) limited by the charter, Act of Parliament or MEMORANDUM OF ASSOCIATION. A compa- ny may be a public limited company (PLC or plc), in which event its shares may be transferred freely among, and owned by, members of the public. All limited liability companies that are not public limited companies are private companies, denoted by the term Ltd. While companies are owned by their members (i.e. shareholders), they are managed by a BOARD OF DIRECTORS. Historically, the duties owned by the board are fiduciary in nature and owed to the company rather than the shareholders. Companies are the major instrument for eco- nomic and financial growth and development in the Western world. A company may be limited by shares or, in the case of a private company, by guarantee. Since the Companies Act 1980, it is no longer possible to create a company limited by guarantee and having a share capital in the UK. A company limited by guarantee is a company that has the liability of its members limited by the memorandum of asso- ciation to such an amount as the members may undertake to con- tribute to the assets of the company upon its being wound up.A company limited by share is a company having the liability of its members limited by the memorandum of association to the amount, if any, unpaid on the shares respectively held by them. |
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