When the company closes it may need a "death certificate" to avoid further legal obligations.
Businesses serve as conductors of economic activity, and are prevalent in capitalist economies, where most of them are privately owned and provide goods and services allocated through a market to consumers and customers in exchange for other goods, services, money, or other forms of exchange that hold intrinsic economic value.
A parent company is a company that owns enough voting stock in another firm to control management and operations by influencing or electing its board of directors; the second company being deemed as a subsidiary of the parent company.
The definition of a parent company differs by jurisdiction, with the definition normally being defined by way of laws dealing with companies in that jurisdiction.
Examples include "segregated portfolio companies" and restricted purpose companies.
The sense of "trade, commercial engagements" is first attested 1727.
Private companies do not have publicly traded shares, and often contain restrictions on transfers of shares.
In some jurisdictions, private companies have maximum numbers of shareholders.
In a company limited by guarantee, this will be the guarantors.
Some offshore jurisdictions have created special forms of offshore company in a bid to attract business for their jurisdictions.