A company can be signified as an artificial person, invisible, intangible, created by or within the law, with a certain legal personality, perpetual succession, and a standard seal. It does not get impacted due to the death, insanity, or insolvency of a particular member. Let’s get to know a number of the most significant benefits of private limited company registration.
A company is a legal entity that has real existence. It is an artificial person established by the law, its presence is different from its directors and shareholders. It is often stated as a juristic person which is set up under the Companies Act.
Perpetual succession implies continuing or enduring forever, the company is everlasting. It signifies the constant existence of a company till it gets dissolved in a legal form. Perpetual succession is an important element. As mentioned before, it is a distinct kind of legal entity which remains unaffected by the death or departure of any member.
Regardless of whatever changes take place across anything viz. membership, members, staff, shareholders, nothing of this sort is capable of impacting its existence, once established, it stays alive adhering to the companies Act.
Limited Liability is a liability towards a limited amount of debts. The liability of the members concerning the debts of the company is limited - limited to the face value of the share bought by them.
An exception remains alive when the members have agreed to unlimited liabilities under a legal contract, the terms & conditions might differ. Such companies are stated as unlimited companies.
The shares of a corporation are limited by the shares bought. It is transferable by the shareholder to a different person. Shares are often transferred to anyone the shareholder opts for. A signed copy of the share transfer form gets handed over to the customer of shares alongside the certificate of share.
So, these are some of the major benefits of partnership firm registration in India. Moreover, if you are seeking a reliable entity to get any kind of company registration including partnership firm registration, OPC registration, startup registration, trademark registration or any other sort of registration, you would not need to look out any more. You can reach out to Careful Counting for all of these.
Careful Counting is the one-stop destination for all kind of legal registrations. All you are required to do is simply get a hold of us via our contact mediums and we’ll eagerly be helping you throughout the entire process while ensuring you remain stress-free from every step.