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Professions that require particular licenses include legislation, medicine, piloting plane, selling liquor, radio broadcasting, promoting investment securities, selling used cars, and roofing. Local jurisdictions may also require particular licenses and taxes simply to function a business. A very detailed and well-established body of rules that evolved over a very long time period applies to industrial transactions. The need to control trade and commerce and resolve business disputes helped form the creation of legislation and courts. The Code of Hammurabi dates again to about 1772 BC for instance and accommodates provisions that relate, among other matters, to transport prices and dealings between merchants and brokers. The word “corporation” derives from the Latin corpus, that means body, and the Maurya Empire in Iron-Age India accorded legal rights to business entities.
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In legal parlance, the house owners of a company are normally referred to as the “members”. In an organization restricted or unlimited by shares , this will be the shareholders. Some offshore jurisdictions have created particular types of offshore company in a bid to draw business for his or her jurisdictions.