A way to take in company's course (5)
I believe the answer is:
ascot
'course' is the definition.
(I've seen this before)
'a way to take in company's' is the wordplay.
'way' becomes 'st' (**).
'to take in' means one lot of letters goes inside another.
'company' becomes 'co' (abbreviation).
'st' enclosing 'co' is 'scot'.
'a'+'scot'='ASCOT'
(Other definitions for ascot that I've seen before include "Racing to the strange coast" , "Where ladies wear new hats" , "course without any fences!" , "track" , "Type of necktie" .)