An example of a corporation is Apple Computer.
- a legal entity that exists independently of the person or persons who have been granted the charter creating it and that is invested with many of the rights given to individuals: a corporation may enter into contracts, buy and sell property, etc.
- a group of people, as the mayor and aldermen of an incorporated town, legally authorized to act as an individual
- any of the political and economic bodies forming a corporative state, each being composed of the employers and employees in a certain industry, profession, etc.
Origin of corporationprob. from assoc. with corpulent, etc.Informal a large, prominent belly
Origin of corporationMiddle English corporacioun from Ecclesiastical Late Latin corporatio, assumption of a body, incarnation from past participle of Classical Latin corporare: see corporate
- An entity such as a business, municipality, or organization, that involves more than one person but that has met the legal requirements to operate as a single person, so that it may enter into contracts and engage in transactions under its own identity.
- Such a body created for purposes of government. Also called body corporate .
- A group of people combined into or acting as one body.
- Informal A protruding abdominal region; a potbelly.
- A group 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.
- In Fascist Italy, a joint association of employers' and workers' representatives.
- (slang) A protruding belly; a paunch.
corporation - Investment & Finance Definition
A legal entity that exists under authority granted by state law. A corporation has its own identity, separate from its shareholders or owners, and as such can be sued, enter into contracts, buy or sell real estate or property, and even break the law. A corporation is responsible for its debts; typically, responsibility can’t be directly assessed to shareholders or corporate directors or officers. A corporation continues indefinitely and is not affected by the death of shareholders, directors, or officers.
corporation - Legal Definition
- A corporation whose articles of incorporation have been filed in a particular state. (The corporation is a domestic corporation of that state.) See also foreign corporation.
- For federal income tax purposes, a corporation whose articles of incorporation have been filed in the United States.
- A corporation created by a state or the federal government and, while often financially independent of the government, engages as a government agency in activities that benefit the general public. A publicly appointed board of directors manages such a corporation. See also private corporation.
- See publicly held corporation.