When a People Record is created or Imported, Uptics will create a Company Record based on the Person's domain if a Company Record isn't already present.
It will create the Company Record using the domain of the Contact Record's email address for the domain field in the Company Record, and it will take the company name of the People Record and input it as the company name field in the Company Record.
If the Company Record already exists based on domain, it will auto-associate the Contact Record to the Company Record.
To summarize, when you create a contact, the company will get created with their domain (and the company name fields) from the people record.
It is important to note that the Company Name field under People is different than the Company Name field inside the Company Collection, and they are not related to the aforementioned points.
This auto-creation of the company record is a courtesy feature so that if you have multiple contacts associated to the same company domain, you will see the communication and task history across all the contacts associated to a single company record.
To enrich the Company Record, since it only contains the domain and company name information, you may then proceed to upload a list of your company contact data and enrich your existing company data. To do this, simply turn on the toggle to create/update, and this will create new company records while also updating existing company records on the basis of the 'domain' field.