Squad

A squad is a temporary grouping. Other names include party, team and group. You can have 6 people max in a squad.
Contrast with clan.
A squad can be formed by typing /invite player_name in the chat window, a squad request is sent to the invited player. The squad request will contain a list of current squad members and squad leader. If there are no other squad members, a squad will be formed with the Invitor as squad leader.
Squad Leader abilities include 
-Kick Squad Member,
-Promote to Squad Leader,
-Set Loot Mode,
-Set Loot Threshold,