Company law is also known as 'Corporate Law' or 'Law of Corporations'. It is the study and/or practice about how directors, shareholders, creditors and employees interact with each other. It may also include some more stakeholders such as the community members, the consumers, etc. Corporate Law is slightly different topic and is the part of company law. Companies’ Law varies depending on the jurisdiction and applicable law of land. Under the companies’ law, the corporations of every size have a legal separate personality. These personalities have unlimited or limited liability, and are responsible towards the shareholders of the company. The shareholders control the entire entity through a team, which is known as the Team of Board of Directors. The board of directors can handle, manage or control the company themselves; or can delegate the powers of controlling, managing and handling the company’s daily operations, to one or more leadership level executives (also known as Leadership Team or Executive Level Team). Corporate law deals with only those entities/companies, which are registered or incorporated under the company law and/or corporate law applicable within the jurisdiction of the land of law. Generally there are four types of company that falls under The Companies Act, 1956 in Indian Jurisdiction:
- Private Limited Company
- Public Limited Company.
- Limited Liability Partnership (LLP) Company.
- One Person Company (OPC).