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The word "company" derives from the Latin corpus, that means body, and the Maurya Empire in Iron-Age India accorded legal rights to enterprise entities. In most international locations, there are laws that deal with small corporations in a special way from large ones. They could also be exempt from sure legal filing requirements or labor laws, have simplified procedures in specialized areas, and have simplified, advantageous, or barely totally different tax remedy. General companions in a partnership , plus anybody who personally owns and operates a business without making a separate authorized entity, are personally liable for the debts and obligations of the enterprise. A parent firm is an organization that owns sufficient voting stock in another firm to control administration and operations by influencing or electing its board of administrators; the second firm being deemed as a subsidiary of the mother or father firm. Laws can govern the remedy of labour and worker re