Legal Definitions - management company

A management company is a type of company that provides management services to other businesses or individuals. This can include managing finances, personnel, and other aspects of a business. For example, a property management company may be hired to manage a rental property on behalf of the owner.

ABC Management Company is hired by XYZ Corporation to handle their financial affairs, including budgeting and accounting. This allows XYZ Corporation to focus on their core business operations while ABC Management Company handles the financial management.

The example illustrates how a management company can provide specialized services to a business, allowing them to focus on their core operations while the management company handles other aspects of the business.