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An organization is a lawful element made up of a relationship of persons, be they natural, legal, or a mixture of both, for carrying on a business or mechanical undertaking. Organization members share a common purpose and unite in order to focus their different abilities and sort out their on the whole accessible skills or resources to achieve specific, declared goals. Companies take different structures such as:
- Voluntary associations which may include non-profit organization
- A group of soldiers
- Business entities with an aim of gaining a profit
- Financial entities and banks
A company or association of persons can be made at law as lawful individual so that the organization in itself can accept Limited liability for civil responsibility furthermore, tax collection caused as individuals perform (or come up short) to release their duty within the publicly declared “birth certificate” or published policy.
Because companies are legal persons, they also may associate and register themselves as companies – regularly known as a corporate gathering. At the point when the organization closes it may need a “death certificate” to avoid further legal obligations.