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==Types==
{{for|a country-by-country listing|types of business entity}}
{{also|Business#Forms}}
* '''A [[Private company limited by guarantee|company limited by guarantee]] (CLG):''' Commonly used where companies are formed for non-commercial purposes, such as clubs or charities. The members guarantee the payment of certain (usually nominal) amounts if the company goes into [[liquidation|insolvent liquidation]], but otherwise, they have no economic rights in relation to the company. This type of company is common in [[England]]. A company limited by guarantee may be with or without having [[share capital]].
* '''A [[Private company limited by shares|company limited by shares]]:''' The most common form of the company used for business ventures. Specifically, a limited company is a "company in which the liability of each shareholder is limited to the amount individually invested" with corporations being "the most common example of a limited company".<ref name="Black's"/> This type of company is common in [[England]] and many [[English-speaking world|English-speaking countries]]. A company limited by shares may be a
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* '''An [[unlimited company]] with or without a share capital'''. A hybrid entity, a company where the liability of members or shareholders for the debts (if any) of the company are not limited. In this case doctrine of a veil of incorporation does not apply.
* '''Companies formed by letters patent'''. Most corporations by letters patent are ''[[corporation sole|corporations sole]]'' and not companies as the term is commonly understood today.
* '''[[Royal charter|Charter corporations]]'''. Before the passing of modern companies legislation, these were the only types of companies.{{dubious|date=July 2018}}<!-- even in the ancient Roman Republic? see [[Corporation#History]] --> Now they are relatively rare, except for very old companies that still survive (of which there are still many, particularly many British banks), or modern societies that fulfill a quasi-regulatory function (for example, the [[Bank of England]] is a corporation formed by a modern charter).
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