BUSINESS meaning, definition in Cambridge English Dictionary
A very detailed and well-established body of rules that evolved over a very long period of time applies to commercial transactions. The need to regulate trade and commerce and resolve business disputes helped shape the creation of law and courts. The Code of Hammurabi dates back to about 1772 BC for example and contains provisions that relate, among other matters, to shipping costs and dealings between merchants and brokers. The word “corporation” derives from the Latin corpus, meaning body, and the Maurya Empire in Iron-Age India accorded legal rights to business entities. Generally, corporations are required to pay tax just like “real” people. Where two or more individuals own a business together but have failed to organize a more specialized form of vehicle, they will be treated as a general partnership.
- The definition of a parent company differs by jurisdiction, with the definition