corporation
DefinitionThe most common form of business organization, and one which is chartered by a state and given many legal rights as an entity separate from its owners. This form of business is characterized by the limited liability of its owners, the issuance of shares of easily transferable stock, and existence as a going concern. The process of becoming a corporation, call incorporation, gives the company separate legal standing from its owners and protects those owners from being personally liable in the event that the company is sued (a condition known as limited liability). Incorporation also provides companies with a more flexible way to manage their ownership structure. In addition, there are different tax implications for corporations, although these can be both advantageous and disadvantageous. In these respects, corporations differ from sole proprietorships and limited partnerships.
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corporation is ...
... part of the Business subject.
... part of the Business subject.
... #15 on our list of the most popular terms.
Related Terms
closely held, commercial paper, conglomerate, corporate trust, director, dissolution, domestic corporation, firm, foreign corporation, Joint Stock Company and
corporation appears in these other terms
Options Clearing Corporation, Resolution Funding Corporation, Government Securities Clearing Corporation, privately held corporation, National Association of Investors Corporation, Federal Deposit Insurance Corporation, private corporation, C Corporation, National Securities Clearing Corporation, Stock Clearing Corporation and
corporation appears in the definitions of these other terms on BusinessDictionary.com
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