Company law deals with the creation and operations of corporations and is associated with the commercial and contract law. An organization is a lawful entity created underneath the laws of the state it's incorporated inside. State laws, which differ from state to state, synchronize the creation, organization, and dissolution of their corporations.
A corporation generates a legal or "artificial person" or entity that has to stand to prosecute and be sued, enter into contracts, and execute other duties necessary to keep up a business, distinct from its stockholders. Corporations are chargeable entities that shield the individual owners or shareholders from personal legal responsibility for the liabilities and debts of the corporation, with some inadequate exceptions- for instance, unpaid taxes.