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The word "company" derives from the Latin corpus, which means physique, and the Maurya Empire in Iron-Age India accorded legal rights to business entities. In most international locations, there are laws that deal with small corporations differently from massive ones. They could also be exempt from certain legal filing necessities or labor laws, have simplified procedures in specialised areas, and have simplified, advantageous, or slightly totally different tax therapy. General companions in a partnership , plus anyone who personally owns and operates a enterprise with out creating a separate authorized entity, are personally answerable for the money owed and obligations of the enterprise. A father or mother company is a company that owns enough voting stock in one other firm to control administration and operations by influencing or electing its board of directors; the second company being deemed as a subsidiary of the parent company. The definition of a mother or father ...