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  2. Dictionary

    cor·po·ra·tion
    [ˌkôrpəˈrāSHən]
    noun
    corporation (noun) · corporations (plural noun) · municipal corporation (noun) · municipal corporations (plural noun)
      • a group of people elected to govern a city, town, or borough.
        Similar:
        municipal authority
        civic authority
      • dated
        humorous
        a paunch.
    Origin
    late Middle English: from late Latin corporatio(n-), from Latin corporare ‘combine in one body’ (see corporate).
    Translate corporation to
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    What is a corporation & how does it work?corporation, specific legal form of organization of persons and material resources, chartered by the state, for the purpose of conducting business. As contrasted with the other two major forms of business ownership, the sole proprietorship and the partnership, the corporation is distinguished by a
    Is a corporation a legal entity?A corporation is a type of business entity that is authorized, by the state in which it is registered, to operate. A corporation functions almost like an artificial person in carrying on its business, or other activities. In fact, a properly formed corporation is a legal entity endowed with the characteristic of “personhood.”
    What is a corporation in law?A corporation is an intellectual body, created by law, composed of individuals united under a common name, the members of which succeed each other, so that the body continues always the same, notwithstanding the change of the Individuals who compose it, and which, for certain purposes, is considered a natural person. Civil Code La. art. 427.
    What are the responsibilities of a corporation?A corporation is a legal entity that is separate and distinct from its owners. Under the law, corporations possess many of the same rights and responsibilities as individuals. They can enter contracts, loan and borrow money, sue and be sued, hire employees, own assets, and pay taxes.
     
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