Main Article of the Corporate Law

A business is defined by the US Congress as an entity or individual engaged in commercial, administrative, or marketing activities for other than personal gain. Most businesses are for-profit enterprises or non-profitable organizations that perform to meet a social cause or further a non-business purpose. In most developed countries there are multiple types of business. In India there are approximately 200 million small and large scale businesses.


Many businesses are classified under government enterprises and corporations. A government enterprise is a company organized as a public company under the state law. A public company is an international body managed by boards of directors appointed by the government. The purpose of these companies is to operate for the benefit of the public. Not all businesses are classified as either corporations or public businesses; many businesses are only privately owned entities.

The main article of the corporate law states that a corporation is a legal body organized for the benefit of its stockholders. Every member of a corporation has equal legal rights. The main article of the commercial law states that a partnership is a partnership that subsists for the benefit of all the members of the partnership. A limited liability partnership is a business structure that involves two or more entities rather than one. Private Companies and Private Individuals can engage in trade on the internet, in real life or on a virtual platform.