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In summary, company history focuses on the past events and milestones that have shaped the company, while company background provides a broader overview of the companys current state and strategic context. Both are important for understanding a company, but they serve different purposes.
The business background provides the reader with information regarding: The type of business (e.g., wholesale, retail, manufacturing, service, etc.). The type of legal entity (e.g., corporation, LLC, partnership, sole proprietorship, etc.). When the business was established. Where the business is located.
This explains why history is sometimes revised or reinterpreted. While the past itself remains unchanged, history evolves as evidence is uncovered or reexamined, at times enriching and other times disagreeing with our previous understandings.
Backstory is usually used to talk about the background of fictional characters while lore is usually in reference to a fictional universe, world, etc. History is usually used when talking about events that actually occurred.
Backstory is a characters history or origin story. By filling in a characters backstory, the author provides them with greater depth, though not everything may be known by the reader. It can also be useful in revealing important elements of a characters past for storytelling purposes.
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BACKSTORY DEFINITION Backstory is a set of events that have occurred before the main story. These events can either be alluded to, described by one or more characters, or shown in flashback.
An events background is facts or history that help to explain how or why it happened: To understand the war, we need to consider its historical and political background. (Definition of background from the Cambridge Academic Content Dictionary Cambridge University Press)

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