Corporation definition

Word Origin late Middle English: from late Latin corporatio(n-), from Latin corporare ‘combine in one body’ (see corporate). 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. British Broadcasting Corporation. A corporation is a legal entity that is separate and distinct from its owners.

Corporations enjoy most of the rights and responsibilities that individuals possess: they can enter contracts. Firm that meets certain legal requirements to be recognized as having a legal existence, as an entity separate and distinct from its owners.

The corporation is liable for the actions and finances of the business – the shareholders are not. Corporations can be for-profit, as businesses are, or not-for-profit, as charitable organizations typically are.

Corporations are legal entities that have been created by the Royal Charter, state or common law. These entities are established as separate legal bodies from their members - having their own distinct privileges and liabilities. The interests of management and shareholders often conflict, particularly when a corporation is subject to a possible takeover attempt.

In other words, it’s a business that is a separate legal entity from its shareholders. The basic corporate structure consists of the shareholders, board of directors, and officers.

The shareholders are the investors and people who actually own the company.

The majority of creditors are large corporations and insurance and reinsurance companies. The applicant was the largest creditor of the corporation and substantially financed its incorporation.

The owners of the corporation in a legal sense are the shareholders, who purchase with their investment of capital a share in the proceeds of the enterprise and who are nominally entitled to a measure of control over the financial management of the corporation. Definition of corporate. Because it is recognized by governments as a separate entity, the corporation must file tax returns and pay taxes and conform to state and federal law.

This separation of persons and corporation gives it special powers. Corporation, specific legal form of organization of persons and material resources, chartered by the state, for the purpose of conducting business. Its features include limited liability and juridical personality, which means that the corporation itself as a fictive ‘person’ may sue and be sued and may make contracts.

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. This status is independent from the persons involved.

A body corporate, 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. The municipal governing body of a borough or city. Regular corporations, sometimes called a C-Corporations (after Subchapter C of the Internal Revenue Code) are taxed as separate business entities.

A transnational, or multinational, corporation has its headquarters in one country and operates wholly or partially owned subsidiaries in one or more other countries. CTSA: the filing obligation: filing date: definition. An entity, usually a business, created by a legislative act or by individuals who have agreed upon and filed articles of incorporation with the state government.

Ownership in the corporation is typically represented by shares of stock. A body corporate, 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.

Most large firms, especially those engaged in manufacturing, are organized as corporations. One of the most important features of a corporation is that its owners are generally not personally liable for the debts of the corporation.

In general, a corporation is formed under state law by the filing of articles of incorporation with the state. The state must generally date-stamp the articles before they are effective. Synonyms for corporation at Thesaurus. Find descriptive alternatives for corporation.

UK branch or office. You don’t get a bill for.