COMPANY LAW - LECTURE NOTES I. INTRODUCTION TO INCORPORATION 1. Definition of a 'Company' A company is a 'corporation' - an artificial person created by law. A human being is a 'natural' person. A company is a 'legal' person. An Introduction To Business Organizations William F. Davis, Malm & D'Agostine, P.C. The following outline is intended to acquaint the reader with the different forms in which businesses are commonly conducted. It is greatly simplified. COMMON FORMS OF BUSINESS ORGANIZATIONS The seven most common forms of business organizations are.