**Company** is a legal entity formed by a group of individuals to engage in and operate a [[Business|business]] enterprise, whether [[Commerce|commercial]] or [[Industry|industrial]]. Companies may be organized in various forms depending on the [[Jurisdiction|jurisdiction]] and purpose, including [[Corporation|corporations]], [[Partnership|partnerships]], [[Limited liability company|limited liability companies]], and [[Cooperative|cooperatives]]. A company is typically distinct from its owners in law, possessing its own rights, obligations, and liabilities separate from those of the individuals who created or invest in it—a concept known as [[Legal personality|legal personality]] or corporate personhood. The modern concept of the company evolved from early trading organizations such as [[Guild|guilds]] and [[Charter company|chartered companies]], including the [[Dutch East India Company]] and the [[East India Company|British East India Company]], which were among the first entities to issue [[Share (finance)|shares]] of [[Stock|stock]] to investors. The development of [[Limited liability|limited liability]] in the 19th century was a pivotal innovation, shielding individual [[Shareholder|shareholders]] from personal responsibility for company debts and encouraging large-scale [[Investment|investment]]. This legal framework underpinned the growth of modern [[Capitalism|capitalism]] and the rise of the [[Multinational corporation|multinational corporation]]. Companies are generally governed by a [[Board of directors|board of directors]] and managed by appointed [[Corporate title|officers]], with oversight mechanisms defined by [[Corporate governance|corporate governance]] standards and applicable [[Corporate law|corporate law]]. They may be [[Public company|publicly traded]] on a [[Stock exchange|stock exchange]] or held [[Privately held company|privately]]. The formation, regulation, and dissolution of companies vary by jurisdiction but are typically administered through a government [[Company register|company registrar]] or equivalent authority.