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A company, abbreviated as co., is a legal entity representing an association of legal people, whether natural, juridical or a mixture of both, with a specific objective. Company members share a common purpose and unite to achieve specific, declared goals. Over time, companies have evolved to have following features: "separate legal personality, limited liability, transferable shares, investor ownership, and a managerial hierarchy." The company, as an entity, was created by the state which granted the privilege of incorporation.
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