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Difference between company & corporation

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(Querist)
31 July 2012 What is the difference between company & corporation?
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CA Lokesh Pokharna

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CA Lokesh Pokharna (Expert)
31 July 2012 Corporatization refers to the transformation of state assets or agencies into state-owned corporations in order to introduce corporate management techniques to their administration

A company is a business organization. It is an association or collection of individual real persons and/or other companies, who each provide some form of capital. This group has a common purpose or focus and an aim of gaining profits. This collection, group or association of persons can be made to exist in law and then a company is itself considered a "legal person"
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