Definition of Corporation:
A company or group of people that is authorized to operate as a single entity (legal entity) and is legally recognized.
Companies that meet certain legal requirements are legally recognized by independent entities and their owners. A corporation is owned by its shareholders (shareholders), who share in the profits and losses of the corporate business and has three distinct characteristics. (1) Legal Entity: A company can buy, sell, (as an individual), sign and execute contracts, and be prosecuted by other individuals and companies. You can do good deeds and get rewarded, you can be angry and punished. ()) LIMITED LIABILITY - The company and its owners are liable only to lenders and other lenders to the extent of the company's resources, unless the owner provides personal guarantees. () Continuity of existence: Companies can live beyond the useful life and potential of their owners, as ownership can be transferred through the sale or sharing of donations.
Municipality or municipal government.
Very large companies, generally diverse.
For more information, see the difference between S Corporation and LLC.
Synonyms of Corporation
Company, Worktable, Concern, Trade association, Workhouse, Chamber of commerce, Business establishment, Partnership, Pot, Working space, Office, Combine, Aktiebolag, Establishment, Organization, Studio, Company, Workplace, Industry, Trust, Agency, Butcher shop, Atelier, Multiple, Pool, Loft, Aktiengesellschaft, Work space, Desk, Holding company, Syndicate, Sweatshop, Consortium, Workshop, Bench, Utility, Concern, Work site, Commercial enterprise, Facility, Cartel, Agency, Workbench, Trust, Paunch, Institution, Operation, Business, Firm, Beauty parlor, Diversified corporation, Parlor, House, Firm, Conglomerate, Pod, Syndicate, Plunderbund, Consortium, Workroom, Multinational, Bureau, Consolidating company, Stock company, Institution, Public utility, Joint-stock company, Guild, House, Corporate body, Barbershop, Business, Body corporate, Installation, Compagnie, Operating company, Federation, Combine, Bay window, Conglomerate, Conglomerate corporation, Partnership, Organization, Shop, Joint-stock association, Group, Copartnership, Beauty shop, Chain, Enterprise
How to use Corporation in a sentence?
- I work for a crazy company that steals my time and barely pays me to survive because they want me to depend on them and never want to run away.
- The shareholders of the company must declare their annual profit as tax at the end of their tax year.
- At first, Bill enjoyed working in large corporations, but after years at the company, he felt he could make better use of his skills in a small company that didn't have much paperwork.
- Most lenders are large companies and insurance companies.
Meaning of Corporation & Corporation Definition