Corporate law is a part of the broader Companies law. It is the study of how shareholders, directors, employees, creditors, and other stakeholders, such as consumers, the community and the environment, interact with one another under the internal rules of the firm (or law of business associations). Other types of business associations can include partnerships, or trusts (like a pension fund) or companies limited by guarantee (like some universities or charities). Corporate law is about big business with separate legal personality, with limited or unlimited liability for its members or shareholders. It deals with the firms that are incorporated or registered under the corporate or company law of a sovereign state or their subnational states.