Company with a boon of perpetuity and a separate legal existence
A company is an artificial person and a separate legal entity. Unexpected events like insanity or death or change in directorships of members are quite likely. Such instances will not affect the existence of the company. To grow, a company may need funds from outside. Hence, for an investor, it is easier to trust companies for investing their funds if the said companies have a separate legal existence and perpetuity.