Theory of Corporate Personality

In this research paper the authors have gone through various books and internet sources to present all the theories of corporate personality in one concentrated form. In this research paper the authors have find out that the word Company has no technical or legal meaning. Section 2 (20) of the 2013 Act defines the term company to mean a company incorporated under the Companies Act 2013 or any previous company law. In the common law a company is a Legal Person or Legal Entity which is separate from and capable of surviving beyond the lives of members. Just like a juristic person a company is an entity different from its members, having its rights and duties and having a perpetual succession. So, Corporate Personality is one of the characteristic of the company under which company is said to be a legal or artificial person. Also the Authors have discussed in detail the characteristics of the corporate personality. Further the authors have analysed in detail the five theories of corporate personality namely, Fiction, Concession, Realist, Group Personality Theory And Symbolist Theory.