A company is a special legal vehicle created to do business in the society. It can be constituted by an association, a group of associations an individual or a group of individuals or a combination of associations or individuals.

Primarily companies exist to make business and make profits. But some companies find the idea of profit to be nebulous. Eg. IDEG, CDD.

The company as an institution is also flexible to accommodate the needs of almost any type of business .

There are some strict rules regulating the existence of companies, so that to some the definition of company will be a legal structure or kinds of structures that are covered in statutes regulating companies. So in Ghana a company therefore is the legal structures that have been defined or described in the Company’s Act, 1963 Act 179. So Act 179 is a regulatory document that describes :

How the various types of companies are formed and dissolved.

The steps needed to operate legally

The rights duties, power and liability of members and officials of the company

How the company is governed on a day to day basis.

A regulatory oversight of the company by the institutions of state.