It seems English, there are 1000 names for a group of people that structurally coŲperate to get payd.
only two I could think of besides those
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I didnt know those two words as such.
But why are there so many? Just company would suffice.
Is it because a new company wants to sound different and new so they make up a different one from their competition?
In Holland we have one word, "Bedrijf" which roughly translates as "works",
but international companies will have english names, any of the above.
They're all kind of used interchangeably now, but they do have different meanings (slightly).
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~This is something ugly people say to feel better about themselves...
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I sm yo lazy, and have to go to work, but they are little differant. As to goals, structure and ownership.
They aren't all different, but many are.
A company is just a generic term.
A corporation means that it is a business with it's own legal entity. Thus it has been incorporated, so it can be sued.
An Agency generally is a business that performs a service for some other business. For example, ad agencies, model agencies, etc.
There are also things like co-ops that mean it's a business with shared liability between 2 or more persons.
Then there are things like crown corporations, which are government controlled.
So in many cases there is at least an implied difference. But it would be pretty boring if we had one word for everything.
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yeah they are all different...must be a language barrier...
I can't be bothered explaining the differences...
go to dictionary.com
synonyms aren't always sharing exact meanings, just similar...
they are all really similar, but different
Last edited by geoffgarcia; 05-05-2004 at 09:10 AM.
So which category does a bank fit into?
depends on which bank...
I belong to a federal credit UNION
some banks are private, some public, some federal, some for just checking/savings, some for investing, some for stocks/funds, etc...
A credit union is not a bank. I think typically a bank would be a corporation???
how is it not a bank?Originally Posted by Berserker
I have a checking and savings account with them, thus I call them a bank, perhaps I'm using the wrong terminology?
what does a bank do that a fcu doesn't do?
A bank is a bussiness with customers, a credit union has members, that own it.
There are other names for businesses also:
Those are a few more. A corporation is basically a company that has stock. I would think a bank would be a corporation AFAIK, but Im not sure if all of them are publicly traded or not. Maybe none of them are actually lol.
Edit - they all have "business" as a meaning but they do mean different things, they go by different tax laws, different liability issues, etc.
Last edited by Y2A; 05-05-2004 at 04:56 PM.
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I think it has to do mostly how it is owned, owners or partnership, or traded stock, publicly owned. Also liability. A person has some protection by incorporating his buisness, provides a little bit of a buffer between his buisness and home.
bah...the synonyms are a mass conspiracy by US and UK governments to confuse the Dutch.
just like how liberal = conservative
and conservative = liberal
the worst is all the accronyms used in the workplace!
"Don't take life too serious, you'll never get out alive."-Van Wilder
Corporation, Agency, and Company are different.
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"im assuming the holy (big) 3 are: curls, bench, legs?" - Saggas
"had a huge ass burn on my triceps while I was doing those kickbacks, so they'll likely be staying with my exercise program." - Zearoth
"most of my burned calories coming from something called Basal. Wtf does a leaf have to do with any of it?" - Votorx
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Way to repeat everyone.
wtf are you talking about? that is a false statement.Originally Posted by Reinier
-Girls like big strong men, all the other men has to find a niche or a thing they supposedly love, you know...like saving whales or reading books, to get laid.
-Look..first I am scared little freezing virgin munk, but then I bare my self and I am nothing like a freezing virgin!
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Originally Posted by fixationdarknes
Conservatives in the USA think nothing should hamper economic progress
Liberals in the USA want to have more laws and have people pay more tax.
This opposes the definitions of the words.
In legal terms, the terms "corporation" and "company" are NOT the same and cannot be used interchangeably.
A corporation is an entity with the legal authority granted by a state to act as a single person distinct from the individual shareholders who make up the corporation. A corporation has the right to issue stock and exist in perpetuity.
A company is an association of a number of individuals for the purpose of carrying on some legitimate business.
An S corporation is a corporation that has elected a special tax status with the IRS. The main advantage associated with the "S" Corporation is that the income passes through to the shareholders, thus avoiding the double taxation of a "C" Corporation. Subchapter S corporations are most appropriate for small business owners and entrepreneurs who want to be taxed as if they were sole proprietors or partners,
A C corporation is corporation that is taxed at the corporate level rather than the shareholder level.
Confused yet? lol
A limited liability company is not a corporation, but it offers many of benefits of a corporation. Many small business owners and entrepreneurs prefer LLCís because they combine the limited liability protection of a corporation and the pass through taxation of a sole proprietorship or partnership. The downside to an LLC is that it does not offer the free transferability of ownership, perpetual existence, and the ability to be totally owned by a single individual that one gets with a corporation.
A limited liability partnership is a business relationship in which one partner is not responsible for the negligent acts committed by another partner or by the employees not under that partnerís supervision; LLPís are most common among law firms and are becoming widely used in the United States and elsewhere, especially in the wake of Sarbanes-Oxley and the CEO scandals of the past few years.
a limited partnership is a partnership that is composes of one or more persons who control the business and are personally liable for the partnershipís debts and then one or more other persons who contribute capital and share profits but cannot manage the business and are only liable for the amount of their investment.
This is just the tip of the iceberg. There are other terms used in various countries for types of businesses -- i.e., gesellschaft in Germany and sociedad anima and sociedad limitada in Spanish-speaking countries.
Also, when a corporation or LP files its charter documents with a state or other governmental filing agency, the EXACT terminology needs to be used in its articles of incorporation or memorandum of understanding (i.e., a Delaware corporation, a Michigan limited liability company, a Bermuda corporation, a Chilean sociedad limitada, etc.).
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