(a) Artificial person 

(b) Separate legal entity

(c) Difficult formation 

(d) Perpetual succession

(e) Common seal 

(f) Risk bearing

(g) limited liability 

(h) Transfer of interest

Detailed Answer : 

(a) Artificial person : A company is a creation of law and exists independent of its members. Like natural persons, a company can own property, borrow money, sue and be sued but unlike them, it cannot breathe, eat, talk and so on. 

(b) Separate legal entity : From the day of its incorporation, a company acquires an identity, distinct from its member. 

(c) Difficult formation : The formation of a company and registration involves preparation of several documents and compliance with several legal requirements. Registration of the company is compulsory.

(d) Perpetual succession : Members may come and members may go, but the company continues to exist. It can be brought to an end only by law. 

(e) Common seal : The company being a artificial person acts through its Board of Directors. Board of Directors enters into an agreement with others by indicating the company approval through a common seal. 

(f) Risk bearing : In the face of financial difficulties, all shareholders in a company have to contribute to the debts to the extent of their shares in the company’s capital. 

(g) Limited liability : The liability of the shareholders is limited to the extent of their capital contributed in the company. 

(h) Transfer of interest : The shareholders enjoy a right to transfer their shares to other persons in the open market or at the stock exchange.