Custom term page resolving to 404.php template

I’ve created a new site in WPMU 2.7 and am using the Default template. I’ve added one plugin: Custom Taxonomies. The custom taxonomy I added was “Company” and it’s setup to work with posts.

If I created a new category called “Feature”, then I’m able to browse to /category/feature/ and I get the archive.php template, even if there are no posts with the “Feature” category assigned.

Back to the “Company” Taxonomy, I’ve created a few companies for testing: Alpha Company, Beta Company, and Charlie Company. I have one post that is associated with Bravo Company. The other companies do not have any posts associated with them. When I browse to the /company/bravo-company/ URL, the archive.php template is used. When I go to either of the other company pages (Alpha or Charlie), the 404.php template is used.

So, if the “Feature” category uses archive.php when it has no associated posts, why wouldn’t an empty company URL as well?

Thank you,
Ryan