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LSDefine

Simple English definitions for legal terms

company

Read a random definition: industrial unionism

A quick definition of company:

Company: A company is a type of business that makes money by selling goods or services. It is like a team of people who work together to make things or provide services to customers. A company is separate from the people who own it, and it has its own rights and responsibilities under the law. There are different types of companies, such as corporations, limited liability companies, partnerships, and sole proprietorships.

A more thorough explanation:

A company is a type of business that operates to make a profit. It can take many forms, such as:

These different types of companies have their own unique characteristics, but they all share the common goal of making money.

When a company is formed, it becomes a separate legal entity from its owners. This means that the company has its own rights, liabilities, and legal capacities that are distinct from those of its owners or members.

For example, if a corporation is sued, the owners' personal assets are generally protected from being used to pay any damages. This is because the corporation is a separate legal entity that is responsible for its own actions and debts.

Overall, a company is a business organization that exists to make a profit and has its own legal identity separate from its owners.

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General

General chat about the legal profession.
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ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
WorthlessAttractiveZombie
7:44
My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs
WorthlessAttractiveZombie
7:46
Also has anyone's date disappeared for W&L? Mine did last night
7:55
@WorthlessAttractiveZombie: mine did yesterday morning
7:56
Oops sorry I meant Vilanova. Mine disappeared last week
soapy
8:48
UMN under review! As predicted, decisions are gonna come out early December
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