Explains the type of company and gives its history if an existing company. If a new company. tells the background of how the idea os starting the business came about. Tells whether it is a manufacturing, retail, service, or other type of business. Also describes the proposed form of organisation - Sole proprietorship, partnership , or corporation. This section should be organised as follows: name and location; company objectives; nature and primary product/service of the business; current status (startup, buyout, or expansion); mission statement - usually 30 words or less; and history (if applicable).