Illinois Compiled Statutes 205 ILCS 205/2001.40 – Company
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Terms Used In Illinois Compiled Statutes 205 ILCS 205/2001.40
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
“Company” means any corporation, limited liability company, partnership, joint venture, trust, estate, association, or unincorporated association.