What is a Company? A company may be defined as an association
where two or more persons come together for a common business
goal. It has what is termed 'separate legal personality' meaning
it is treated as an entity separate from its shareholders.
Consequently, the liabilities of a company cannot be extended to
its shareholders. The liability of shareholders is limited to
the amount unpaid on their shares. As a legal entity, a company
has, subject to the Companies Act and to such limitations as are
inherent in its corporate nature, the capacity, rights, powers
and privileges of an individual. This entails that a company can
own property, sue and be sued and enjoys perpetual succession,
among others. However, since a Company, unlike a human being, is
an artificial person, it can only act through an agent, namely,
a Board of Directors. Benefits of registering or incorporating a
company Registration or incorporating gives:- 1. Company legal
status; 2. A company exclusive rights to the use of the company
name; 3.