Companies can be categorized as public or private. Companies are generally organized to earn a profit from business activities, but some may be structured as nonprofit charities. They may have...
Corporations in the United States are limited liability companies. In other words, their shareholders are only liable for the shares they own. In most cases, the terms ‘company’, ‘firm’ and ‘corporation’ mean the same. However, professional partnerships such as lawyers, accountants, or consultants are firms. They are not companies.