The Promoters of a company may be individual entrepreneurs or body corporate engaged in efforts to incorporate a company. They have the power of defining the object of the company and deciding various matters for the company proposed to be incorporated. It is depending upon, the purposes for which the company is to be incorporated, the proposed scale of operations, the capital involved, etc. The promoters can select the type of company they wish to form themselves into viz. private company, public company, non-profit making company, etc.
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