Task: Class Definition Understanding (ontology: Legal/LKIF_Core_Ontology)

Which of the following definitions best describes 'Company'?

A. An organized group of people associated together for religious, benevolent, cultural, scientific, political, patriotic, or other purposes.
B. A the concept refers to a legal entity formed which has a separate legal identity from its members, and is ordinarily incorporated to undertake commercial business. Although some jurisdictions refer to unincorporated entities as companies, in most jurisdictions the term refers only to incorporated entities.
C. A voluntary the concept (also sometimes called an unincorporated the concept, or just an the concept) is a group of individuals who voluntarily enter into an agreement to form a body (or organization) to accomplish a purpose.
D. A the concept is a legal entity which, while being composed of natural persons, exists completely separately from them. This separation gives the the concept unique powers which other legal entities lack.

Answer: A the concept refers to a legal entity formed which has a separate legal identity from its members, and is ordinarily incorporated to undertake commercial business. Although some jurisdictions refer to unincorporated entities as companies, in most jurisdictions the term refers only to incorporated entities.