An ingenious device for obtaining individual profit without individual responsibility.

A body politic or corporate, formed and authorized by law to act as a single person, and endowed by law with the capacity of succession; a society having the capacity of transacting business as an individual.

A legal entity properly registered with the secretary of state. Can have limited liability, perpetual life, freely transferable shares, and centralized management.

A legal entity that functions separate and apart from its owners.

An independent entity created to conduct a business. It is owned by shareholders.

Business organized as a distinct legal entity with ownership evidenced by shares of stock.

A legal entity granted permission to operate by a state government.

A legal entity (or "company"), allowed by legislation, which permits a group of people, as shareholders (for-profit companies) or members (non-profit companies), to create an organization, which then focuses on pursuing set objectives. It is legally an entity empowered with legal rights which are usually only reserved for individuals, such as the right to sue and be sued, to own property, hire employees, or loan and borrow money. The primary advantage of for-profit corporations is that it provides its shareholders with a right to participate in the profits (by dividends) without any personal liability, because the company or corporation absorbs the entire liability.

Used in the sense of large scale in local authorities, public or private business.

A form of ownership in which a separate legal entity is created, which is governed by a particular state's corporate laws. A corporation has continuity of life and is not dependent on any one stockholder for maintaining its legal existence. The liability of a stockholder is limited to what it paid for its shares. There is, however, the potential for Double Taxation in the corporate form of organization. The first time at the corporate level and again at the stockholder level because the corporation is taxed on its income and stockholders are taxed on dividends.

In forming a corporation, prospective shareholders transfer money, property, or both, for the corporation's capital stock. A corporation generally takes the same deductions as a sole proprietorship to figure its taxable income. A corporation can also take special deductions. The profit of a corporation is taxed to both the corporation and to the shareholders when the profit is distributed as dividends. However, shareholders cannot deduct any loss of the corporation. close window

A business unit that is legally separate from its owners.

C-Corporation is a separate legal entity that can shield the owners from personal liability and company debts. As a separate entity, it can buy real estate, enter into contracts, sue and be sued completely separate from its owners. Also, money can be raised easier via the sale of stock; its ownership can be transferred via the transfer of stock; the duration of the corporation is perpetual (the business can continue regardless of ownership); and tax advantages can be considerable (i.e. you are able to deduct many business expenses, healthcare programs, etc.). Income is reported completely separate via a tax return for the corporation.

A legal entity that exists separately from the owners. Legally, a corporation is like a person: It can be sued, own property, or acquire debts. Setting up a corporation is expensive initially, but is usually well worth it if you are going to be in business for a while. Corporations come in many forms and many times offer better tax advantages and liability reduction than other legal structures.

A form of business organization which is owned by its stockholders who owns shares that may be transferred or sold privately or in the public markets.

A group created by a legal charter that may buy or sell or enter into contracts.

A legal entity created under state law most commonly intended to be in business.

The most common form of business organization, in which the total worth of the organization is divided into shares of stock, each share representing a unit of ownership. A corporation is characterized by a continuous life span and the limited liability of its owners.

Another term for company. The term is also sometimes used to refer to public sector enterprises which engage in business activities.

A legal entity which can own property, incur debts... more

A legal entity that can take, hold and transfer property, and carry on business in its own name.

A legal entity registered with Corporationsâ€(tm) Branch or given corporate status by legislation.

A legal entity formed by one or more persons. A corporation is formed under the laws of a specific state and is legally separate from its founders or owners.

An entity authorized by state law that permits a business to organize as a separate legal entity from its owners. The primary advantage of a corporation is that it acts as a shield against personal liability for its owners.

The 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. Characterized by the limited liability of its owners, the issuance of shares of easily transferable stock, and existence as a going concern. see also aggregate corporation, Board of Directors, closed corporation, closely held, commercial paper, company, conglomerate, incorporation, corporate trust, director, dissolution, domestic corporation, Federal Deposit Insurance Corporation, Federal Home Loan Mortgage Corporation, firm, foreign corporation, joint stock company, National Association of Investors Corporation, National Securities Clearing Corporation, Options Clearing Corporation, nonstock corporation, quasi-public corporation, S Corporation, Securities Investor Protection Corporation, Stock Clearing Corporation, takeover.

a business entity that has a legal existence separate from its owner(s)

Another term for company. An association of individuals forming a legal entity and sharing rights and obligations separate from those of individuals. The term often refers to public sector enterprises that engage in business activities.

A form of business organization that may have many owners. Each owner is liable only to the extent of the investment. It is an artificila entity established by the state.

An entity with the legal authority granted by a state to act as a single person distinct from the individual shareholders who make up the corporation. A corporation has the right to issue stock and exist in perpetuity.

a business entity owned by shareholders that is generally treated as a separate taxpayer

A legal entity, chartered either by an individual state or the federal government, which is separate and distinct from its officers, directors, and stockholders. The charter is the "birth certificate" of the corporation. It can own property, incur debts, sue and be sued. There are three distinct advantages: limited liability (owners can lose only what they invest), easy transfer of ownership (through the sale of stock), and continuity of existence

A legal entity owned by shareholders whose liability for the firm's losses is limited to the value of the stock they own.

A way or organizing your business so that its finances are separate from your personal finances. A corporation has legal rights and responsibilities that protect your business.

a legal entity which is separate and distinct from its owners, and can own assets, incur liabilities, and issue stock.

a business structure in which the corporation rather than you as business owner or partner earns the profits and assumes the liability of the business

A company authorized to act as a single entity (legally, as a person), having rights, privileges and responsibilities distinct from those of the individuals within the entity. A corporation has four major characteristics: limited liability, easy transfer of ownership through the sale of stock, continuity of existence and centralized management. Most large firms today are organized as corporations. (Compare Partnership, Sole proprietorship.) View LEI Lesson(s) that address this term

An entity given legal authority by the state, that can act as a person, separate from the individual shareholders who make up the corporation.

An organization formed under specific state statutes in order to separate (usually financially) the organization from those running it.

Form of doing business that provides limited liability to the owners, continuity of operation and centralized management.

An entity (usually a business) having authority under law to act as a single person distinct from the shareholders who own it, and has the legal powers that its articles of incorporation grant it.

An entity of indeterminate life owned by one or more parties. Ownership is evidenced by shares of stock, each representing a fractional interest in the entity.

A type of business organization chartered by a state and given many of the legal rights as a separate entity.

A corporation is a business enity in its own right. This means it can act as a person in the eyes of the law. It is formed under a charter issued by any state in the United States. It is owned by stockholders whose liability is only for the value of the stock they purchased. They are governed by a board of directors who are elected by vote of the stockholders. The board of directors hires managers who actually run the day to day operations of the corporation.

A business organization that, for tax purposes, is a legal entity. A corporation has limited liability (owners can lose only what they invest), easy transfer of stock, and continuity of existence.

An entity formed by business associates to conduct a business venture and divide profits among investors. It files a charter or articles of incorporation in a state, draws up bylaws, issues stock, and has its affairs managed by a board of directors.

A type of organizational structure that is an artificial entity, invisible, intangible and existing only in contemplation of the law.

A form of business which operates under a government charter and usual consists of three or more people, called shareholders.

An entity formed and authorized by law to act as a single person although made up of one or more persons and legally given the power of various rights and duties including the capacity of succession. Often medical practices are incorporated to limit certain types of liability.

A business organization with a legal identity separate from its owners. The owners or shareholders are liable for the company's debts only to the extent of their investment.

Form of business organization created pursuant to a state charter, offering perpetual existence and limited financial liability.

An artificial legal entity created by government grant and endowed with certain powers; a voluntary organization of persons, either actual individuals or legal entities legally bound together to form a business enterprise.

An artificial legal entity, chartered by the State to engage in business, and having legal powers, rights, privileges, and liabilities distinct from those of its owners and officers as individuals.

a legal entity with the authority to act and have liability separate and apart from its owners

A business that is owned by stockholders and has rights and responsibilities just like a person

A form of business organization in which the total worth of the organization is divided into shares of stock, each share representing a unit of ownership. By law, it has certain rights and responsibilities. It is characterized by a continuous life span and the limited liability of the owners.

means a body corporate with share capital to which the Business Corporations Act applies.

A business, professional or other entity recognized in law to act as a single legal "person," although composed of one or more natural persons, endowed by law with various rights and duties including the right of succession.

An entity created under the law that has essentially the same rights as a natural person. The entity has continuous, perpetual existence until it is legally dissolved.

A company consisting of a group of persons, perceived by the law as a legal entity which acts on the basis of Articles of Incorporation and can conduct business as a separate entity, similar to how private individuals act as businessmen and partners.

A body that is granted a charter recognizing it as a separate legal entity having its own rights, privileges and liabilities distinct from those of its members. The primary advantage of a corporation is to shield its investors from personal liability for any losses the corporation may experience.

An incorporated business registered with a provincial or federal agency as a legal entity separate from the owner. Family corporation: an incorporated business operation where an individual or members of a family owns the majority of the corporation shares. Non-family corporation: an incorporated business operation where a group of unrelated individuals owns the majority of the corporation shares.

An organization created by legal charter to conduct some type of business.

A large-scale organization that has legal powers (such as the ability to enter into contracts and buy and sell property) separate from its individual owners.

A form of business organization recognized as a separate entity (legal person) having rights and obligations distinct from its shareholders and/or officers and directors.

A company is a corporation or legal 'person'.