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A company is a legal entity formed by individuals, shareholders, or partners to engage in business activities. It operates with the primary goal of generating profits through the production or provision of goods and services. Companies can take various forms, including corporations, partnerships, or sole proprietorships, each with distinct legal structures and ownership models. Typically governed by a board of directors or management team, a company defines its purpose, structure, and strategy. It may range in size from small local businesses to multinational corporations, playing a vital role in economies by contributing to employment, innovation, and overall societal development.