Q.Mention any two characteristics of a company.

A joint stock company is treated by law as an artificial person, entirely distinct from the individuals who own or manage it. This idea of a "separate legal entity" is the single most important concept in company law: the company can own property, borrow money, sue and be sued, and enter into contracts — all in its own name, not in the names of its shareholders. A shareholder's personal assets remain untouched by the company's debts beyond the amount, if any, unpaid on their shares (limited liability), and a shareholder can even be an employee of, or a creditor to, the very company they part-own — something that would be legally meaningless in a sole proprietorship, where the owner and the business are one and the same person. …