The objective clause requires you to summarize the main objectives for establishing the company with reference to the requirements for shareholding and use of financial resources. You also need to state ancillary objectives; that is, those objectives that are required to facilitate the achievement of the main objectives.

The registered office clause requires you to show the physical location of the registered office of the company. You are required to keep all the company registers in this office in addition to using the office in handling all the outgoing and incoming communication correspondence.

A company which cannot be termed as foreign company under the provision of the Companies Act should be regarded as a domestic company.

A company is an artificial person and does not have a physical presence. Thus, it acts through its Board of Directors for carrying out its activities and entering into various agreements. Such contracts must be under the seal of the company. The common seal is the official signature of the company.

A company does not cease to exist unless it is specifically wound up or the task for which it was formed has been completed. Membership of a company may keep on changing from time to time but that does not affect life of the company.

Chartered companies are established by the King or Queen of a country. Powers and privileges of chartered company are specified in the charter. Power to cancel the charter is vested with King/Queen. Examples: East Indian Company, Bank of England, Hudson's Bay Company. The Companies Act does not apply to them. Such companies cannot be started in India.

Separate Property:
A Company is a distinct legal entity. A member cannot claim to be owner of the company's property during the existence of the company.
Capacity to Sue and being sued:
A company can sue or be sued in its own name as distinct from its members.

1. The liability of the members of the company is limited to contribution to the assets of the company upto the face value of shares held by him.
2. A member is liable to pay only the uncalled money due on shares held by him.

According to James Stephenson, "A company is an Association of many persons who contribute money or money's worth to a common stock and employ it in some trade or Business, and who share the profit and loss (as the case may be) arising there form."
(or)
According to Sec 2 of Companies Act 2013, "A company is an artificial person created by law having a separate entity with a perpetual succession and a Common seal".

Chartered company, statutory company, public limited company, private limited company and government company are some of the different types of Companies.