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Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. A business can also be described as an organisation that provides goods and services for human needs. When the company closes it may need a “death certificate” to avoid further legal obligations.
Businesses serve as conductors of economic activity, and are prevalent in capitalist economies, where most of them are privately owned and provide goods and services allocated through a market to consumers and customers in exchange for other goods, services, money, or other forms of exchange that hold intrinsic economic value. Businesses may also be social nonprofit enterprises or state-owned public enterprises operated by governments with specific social and economic objectives. A business owned by multiple private individuals may form as an incorporated company or jointly organized as a partnership. Countries have different laws that may ascribe different rights to the various business entities.
Compound forms such as “agribusiness” represent subsets of the concept’s broader meaning, which encompasses all activity by suppliers of goods and services. Typically private-sector businesses aim to maximize their profit, although in some contexts they may aim to maximize their sales revenue or their market share.
Government-run businesses may aim to maximize some measure of social welfare. Old High German galeipo “companion” and Gothic gahlaiba “messmate”.