Legal Definition and Related Resources of Private Company, Private Corporation

A corporation or company created for private as distinguished from purely public purposes, its character being determined by the terms of its charter and the general law under which it is organized. A public corporation, on the other hand, is one created for public purposes, connected with the administration of the government and the interests and franchises of which are the exclusive property and domain of the government itself. Thus, a municipality is a public corporation.

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Private Company, Private Corporation in Historical Law

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