Corporation as known in the US and Company as called in the UK are the terms representing the same business. Evolved through ages, the early partnership was replaced by company when it could not cope with the growing challenges of the business. The 'Societas' of the ancient Rome which were recognized as business partnerships of that time later were successful in grabbing the attention of Italy and France. When it went to the UK, kings named them as 'Privileged Companies' regulated by the King's charter. East India Company, Dutch East India Company and French Mississippi Company were a few of the earliest companies thus formed. The end of 17th century brought an opportunity for all to incorporate companies under the law.
- Company Definition; Private and Public Company
- Difference between private and public company