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- DictionaryCor·po·ra·tion/ˌkôrpəˈrāSHən/
noun
- 1. a company or group of people authorized to act as a single entity (legally a person) and recognized as such in law.
A corporation is a legal entity that acts as a single person with various rights and duties. Learn the different types, synonyms, examples, and history of the word corporation from Merriam-Webster dictionary.
- What Is A Corporation?
- Incorporation
- Legal Requirements
- Operating A Corporation
- Liquidating A Corporation
- The Bottom Line
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A corporation is a legal entity that is separate and distinct from its owners. Under the law, corporations possess many of the same rights and responsibilities as individuals. They can enter into contracts, loan and borrow money, sue and be sued, hire employees, own assets, and pay taxes. A distinguishing characteristic of a corporation is limited ...
A corporation is created when a business is incorporatedby a group of shareholders with a common goal. Shareholders share ownership of a business, as represented by their holding of stock shares. Corporations may return a profit to their shareholders. Some corporations, such as charities and fraternal organizations, are nonprofit or not-for-profit....
Each state has its own laws regarding incorporation. Most states require the owners to file articles of incorporation with the state and then issue stock to the company's shareholders. The shareholders elect a board of directors in an annual meeting. Turning a private corporation into a public corporationis complex, as the company must comply with ...
The shareholders of a corporation typically receive one vote per share and may hold an annual meeting during which they elect a board of directors. The board hires and oversees the senior management responsible for the corporation's day-to-day activities. The board of directors also executes the corporation's business plan. Although the members are...
Incorporation can be ended using the process called liquidation. This may result from a voluntary decision to cease operations or may be forced by the financial collapse of the business. A company appoints a liquidator who sells the corporation's assets. The company pays off its creditors and distributes any remaining money to the shareholders. An ...
A corporation may be formed by an individual or group with a shared goal and can be a for-profit or not-for-profit entity. Corporations possess many of the same legal rights and responsibilities as individuals. The limited liability nature of a corporation means that its shareholders are not personally responsible for the company's debts.
A corporation is a legal entity that is separate and distinct from its owners and has limited liability. Learn the advantages, disadvantages, and steps of incorporating a business in the U.S.
A corporation is, at least in theory, owned and controlled by its members. In a joint-stock company the members are known as shareholders, and each of their shares in the ownership, control, and profits of the corporation is determined by the portion of shares in the company that they own.
A corporation is a legal entity that has its own rights, powers, and liabilities, and is owned by shareholders. Learn more about the types, history, and examples of corporations from Dictionary.com.
Sep 1, 2024 · Corporation, specific legal form of organization of persons and material resources, chartered by the state, for the purpose of conducting business.
A corporation is a large company or group of companies that is controlled together as a single organization. Learn more about the different types, meanings and uses of corporation in business, government and law with Cambridge Dictionary.
Jun 10, 2016 · A corporation is a legal business entity that protects its owners from personal liability for the company's actions and financial status. Learn about the advantages and disadvantages of forming a corporation, the types of corporations, and the exceptions to the limited liability rule.