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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, formed and authorized by law. Learn the synonyms, examples, history, and types of corporations from the 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 contracts, loan and borrow money, sue and be sued, hire employees, own assets, and pay taxes. A distinguishing characteristic of a corporation is limited liabi...
A corporation is created when a business is incorporated by 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 f...
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 how to create a corporation, its advantages and disadvantages, and the difference between a corporation and a business.
A corporation is an organization —usually a group of people or a company —authorized by the state to act as a single entity (a legal entity recognized by private and public law as "born out of statute"; a legal person in a legal context) and recognized as such in law for certain purposes. [1] : 10 Early incorporated entities were ...
Corporation definition: an association of individuals, created by law or under authority of law, having a continuous existence independent of the existences of its members, and powers and liabilities distinct from those of its members..
May 11, 2024 · A corporation is a legal form of business organization that has limited liability, transferability of shares, juridical personality, and indefinite duration. Learn how the modern corporation evolved from the joint-stock company and the medieval guild, and how it became a dominant force in the global economy.
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.
Learn what a corporation is and how it is defined by law. A corporation is a large business or organization that has the rights and duties of an individual and follows a specific purpose.
