@belle1984 - A trust company is a corporation that performs the trustee duties related to trusts. As trustee, the company performs the administrative functions of managing the trust’s assets on behalf of the beneficiaries.
These functions include managing investments, recordkeeping, accounting, and administering distributions to beneficiaries. The relationship between a trust company and a business trust is this: A trust company can be hired to administer the business trust, acting as trustee of the trust (in place of the grantor/settlor – the creator of the trust).
This is similar to the practice of managing retirement plans subject to ERISA laws in that the company who holds the plan (in this case, the business trust) must designate or hire someone to help ensure that all the administrative and legal duties of the trust are carried out properly (in this case, the trust company).