What is the difference between Company and Inc. (eg. caterpillar Inc.)?

Question

what does Inc stand for?

Answer 1

In law, a company 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. It has been judicially remarked that "the word company has no strictly legal meaning",[1] but is taken to mean a specific form of entity created under the laws of the relevant jurisdiction. Because of the limited liability of the members of the company for the company's debts and the separate personality and tax treatment of the company, it has become the most popular form of business vehicle in most countries in the world.

Lacking a concise definition of their own, companies are often defined by reference to what they are not.

Incorporation (abbreviated Inc. in U.S. business names) is the forming of a new corporation. The corporation may be a business, a non-profit organization or even a government of a new city or town.
Legal benefits

* Protection of personal assets. Safeguarding personal assets against the claims of creditors and lawsuits. Sole proprietors and general partners in a partnership are personally and jointly responsible for all the liabilities of a business such as loans, accounts payable, and legal judgements. In a corporation, however, stockholders, directors and officers typically are not liable for their company's debts and obligations. They are limited in liability to the amount they have invested in the corporation (eg: If $100 in stock was purchased, no more than $100 can be lost). Corporations and Limited Liability Companies (LLCs) may also hold personal assets like houses, cars or boats. If one is personally involved in a lawsuit or bankruptcy, these assets may be protected. A creditor of the owner of a corporation or LLC cannot seize the assets of the company, however, they can seize their ownership shares in the corporation, as that is considered a personal asset.

* Transferable ownership. Ownership in a corporation or LLC is easily transferable to others, either in whole or in part. Some states' laws are particularly attractive to this end. For example, with a Delaware Corporation, the transfer of ownership in a corporation is not required to be filed or recorded.

* Retirement funds. Retirement funds and qualified retirement plans (like 401ks) may be set up more easily with a corporation. Corporations can also fully deduct the cost of paying its owner's health insurance.

* Taxation. In the United States, corporations are taxed at a lower rate than individuals. Also, they can own shares in other corporations and receive corporate dividends 80% tax-free. There are no limits on the amount of losses a corporation may carry forward to subsequent tax years. A sole proprietorship, on the other hand, cannot claim a capital loss greater than $3,000 unless the owner has offsetting capital gains.

* Raising funds through sale of stock. Capital from investors can be raised for corporations easily through the sale of stock.

* Durability. A corporation is capable of continuing indefinitely. Its existence is not affected by the death of shareholders, directors, or officers of the corporation.

* Credit rating. Regardless of an owner's personal credit scores, corporations acquire their own credit rating, and build a separate credit history by applying for and using corporate credit.

Answer 2

There are several kinds of company structure in the US:
1. A sole proprietorship is a business which legally has no separate existence from its owner. All debts of the business are debts of the owner. The owner has no partners and does not pay corporate taxes but pays personal income taxes on the profits.
2. A General partnership is an association of persons or an unincorporated company with the following major main features:
A] formed by two or more persons;
B] owners are all liable for all debts of the company.
3. A corporation is a legal entity which exists completely separately from the people who run it. Members of a corporation have "limited" liability for the corporation's debts and obligations. The assets and structure of the corporation exist beyond the lifetime of any of its members.

Inc = incorporated = legally a corporation

Answer 3

Inc.

"Inc." is the abbreviation for incorporated. A corporation is a separate legal entity from the person or people forming it. Directors and officers purchase shares in the business and have responsibility for its operation. Incorporation limits an individual's liability in case of a lawsuit. The corporation, as a legal entity, is liable for its own debts and pays taxes on its earnings, and can also sell stock to raise money. A corporation is also able to continue as an entity after the death of a director or stock sale. A corporation is formed according to state law, through application to the secretary of state and filing articles of incorporation. Because corporations cost more to administer and are legally complex, the U.S. Small Business Administration recommends that small businesses not incorporate unless they become established as a large company. In most states, corporations must add a corporate designation, such as "Inc." after their business name.
Ltd.

"Ltd." is short for limited, or a limited company. This structure is used mostly in European countries and Canada. In a limited company, directors and shareholders have limited liability for the company's debt, as long as the business operates within the law. Its directors pay income tax and the company pays corporation tax on profits. Responsibility for company debt is usually limited to the amount a person has invested in the company. A limited company can be set up in four different ways. In some companies, a shareholder's liability is limited to specific predetermined amounts, drawn up in a memorandum. These businesses are known as "private company limited by guarantee," and shareholders are called guarantors. Charities and social enterprise groups frequently use this structure. In England, limited companies must also have a pay-as-you-earn system established for collecting income tax payments and National Insurance contributions from all employees.

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Co.

"Co." is an abbreviation for company, a catchall phrase for an association of people working together in a commercial or industrial enterprise, such as in a sole proprietorship, limited liability company or corporation. For example, while the Microsoft Corporation is located in Washington state, it is one of many companies located there. Co., or company, does not carry meaning as a specific legal structure on its own.
LLC

"LLC" means "limited liability company." An LLC brings together some features of both business partnerships and corporations, although it is more like a partnership. Owners, also called "members," are protected from liability, but the business's earnings and losses pass through to owners, who report them on their personal income taxes. This makes its structure less complex than that of a corporation, but like a corporation, LLCs must offer stock. Members share profits as they like. Members are considered self-employed and must pay self-employment tax. When a member of the LLC leaves, the business is dissolved and the remaining members decide if they want to start a new business. An LLC is also formed according to state law, through application to to the secretary of state and filing articles of incorporation. LLCs must also indicate in their names that they are an LLC or limited company.

Answer 4

THEY ARE ALL BAS. THE SAME!! inc and company are the same, but an organization is non-profit....such as churches!!