Business Association
/ˈbɪznəs əˌsoʊsiˈeɪʃən/
Definitions
- (n.) An organized group created for commercial purposes, including partnerships, corporations, limited liability companies, and other entities.
The business association held a meeting to discuss new partnership agreements.
- (n.) A legal entity formed by multiple persons to carry on business activities and recognized as a distinct person under law.
The corporation is one of the most common forms of business association.
Forms
- business association
- business associations
Related terms
See also
Commentary
The term broadly refers to various legally recognized entities engaged in business; clarity in drafting requires specifying the exact form to address applicable rights and liabilities.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.