In Canada (and I think this is true in the US, as well) there's a distinction between Sole Proprietorships and Incorporations. In order to register for a developer account as a company you need to officially incorporate and send in copies of that paperwork. Registering as an individual implies that you're running a sole proprietorship.
You can implicitly form a sole proprietorship (meaning you don't have to fill out any official paperwork) if you run your "company" under your name. If your name was Joe Smith, for instance, the name of your sole proprietorship would also be Joe Smith.
If you want to run a sole proprietorship under any other name (Satellite Play, for example) you have to register that name with the government (in BC it costs around $30-$40 to do that). So only fill out the "company" field if you've officially registered the name of your sole proprietorship with the government (again, this is for Canada, but I think the laws are pretty similar in the US).
Hopefully that wasn't too confusing