Legal name for "individual" vs. "company"

There are, depending on your legal jurisdiction, different types of entities, any of which can enter into a contract. Where I live, they are "person", "partnership" and "corporation". There is no legal distinction where I am between a company and an organization. Find out what your jurisdiction uses for terminology and go with that.

You should also make sure that you understand what each of the (three or more) classes of legal entities are entitled to do and not do. It could impact your terms of service language.

I would use "person," or "human being" in place of "individual."