A  V i r t u a l  C o m p a n y

A company built on the basis of teleworking with limited central office administration. Made possible by improved communications and groupware software, it is a phenomenon of the future.

A company integrating several ideals: outsourced noncore competencies; a focus on core strength/business; little or no physical presence or infrastructure; a network of business alliances; the exploitation of intellectual capital; and a heavy reliance on telecommunications. Virtual companies have outsourced the physical processes and administrative attributes of traditional business, and expanded and combined intellectual activities (e.g., problem solving) with standard business processes such as marketing.

"A thing has a virtual existence when it has all the conditions necessary to its actual existence." --Fleming.