Differences Between & Similar Products
May 6, 2011 by Lyka Ricks
What are the differences between Trust and Company?
In the business industry, there are instances the use of words have become redundant or misused. In the English language, this has become one of the famous trends that have been ignored for the longest time. Included in such trend is the usage of the terms trust and company. A trust is one group that is established for the basic purposes of supporting and providing for the needs of the lowly. A company, on the other hand, is one group organized to function as a business entity. Companies are built to engage in trade and commerce.
For many years, trust and company have been used interchangeably, especially within the confines of an institution or an organization. Although they may seem to mean the same, these two words are distinct from each other. While trust is created to support another entity, company is formed to provide consumers with the needed services, usually associated with payments or money.
Apart from that, trust and company differ in their goals and missions as a group. The main goal of trusts is to ensure that those who are under such trust, also known as beneficiaries, are well funded. To do this, they find sponsors or donors who are willing to give their support to the subjects of such trust. Trusts are more commonly termed as public foundations. Companies, on the contrary, are more acquainted with people who work to get paid or sell out products for consumers to purchase. The main goal among all existing companies is to be stable, gain profits and earn rewards, while expenses are made at the minimum costs.
Although trust and company are commonly used as an alternate of the other, it must be remembered that trusts bear no intent of profits while companies do.
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