Corporation
/kɔːrpəˈreɪʃən/
Definitions
- (n.) A legal entity that is separate and distinct from its owners, recognized by law as having rights and liabilities.
The corporation was sued for breaching the contract.
- (n.) An organization authorized to act as a single entity and recognized as such in law, typically to conduct business.
The corporation filed its annual financial statements.
Forms
- corporations
Related terms
See also
Commentary
Corporations are distinct legal persons often used to limit owner liability and facilitate business continuity.
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.