A company is an organization or association to run some sort of business. The types of companies and the rules governing them are different in different countries. All the companies are regulated by certain laws. The common types of companies include the companies limited by guarantee, companies limited by shares, limited liability company and unlimited liability company. The owners of a company are commonly termed as “memebers” of that company. The members are the “share holders” in a company limited by shares and “guarantors” in a company limited by guarantee. For regulatory purpose, companies can be classified as private companies and public companies. The shares of a public company can be traded publicly. But the private company has restrictions on the trading of shares. The major type of company is referred to as corporation. A corporation is governed by the corporate law and it is listed in the world stock exchange. In a corporation, the company share holders vote and decide the panel of directors of the company.