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A third kind is a company The difference here is that the financial liability of the business is separate from the non-public liability of the owners, so they have restricted liability , which implies the house owners aren’t liable for any costs, lawsuits, or other obligations of the business. A company might be owned by individuals or by a authorities. Companies, although enterprise entities, can operate beneath lots of the similar parameters as an individual (for instance, taking out loans, coming into into contract agreements, and paying taxes). A firm owned by a number of people is usually known as an organization.
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