THIS IS EXACTLY HOW IT WORKS
One can define a company as an "artificial person", invisible, intangible, created by or under law, with a discrete legal personality, perpetual succession, and a common seal. Except for some senior positions, companies remain unaffected.
Commonly used where companies are formed for non-commercial purposes, such as clubs or charities.
This type of company stanard is commonly used in England. A company limited by guarantee may be with or without having share capital.
A hybrid entity, but the activities of the company are partly funded by investors who expect a return.