The corporations are not defined in the Commercial Law, and we must refer to the Civil Law’s definition of a company, but it must be borne in mind that the definition of a civil law is very general. Commercial companies can be defined by considering the principles and regulations related to them, as follows:

A business company is an organization that is formed between two or more people in which each of them shares something in the form of cash or goods or work in order to engage in business operations and share the benefits and losses between them. . These companies have a separate personality from the partners and directly have full rights that affect the relationship with the partners or third parties and creditors of the company and the personal creditors of the partners.

Article 20 of the Iranian Commercial Law lists commercial companies in seven categories as follows:

Joint stock companies which are divided into two types, public and private joint stock companies

Liability company

Limited liability company

Non-joint stock company

Joint Stock Company

Relative company

Production and consumption cooperative