DEFINITION
Corporation

"Corporation": In general, a corporation is a legal entity with separate existence from those making it up. It may be constituted by one person ("corporation sole") or by a group of people ("corporation aggregate"). Most corporations have perpetual succession irrespective of a person or persons ceasing involvement (including by death) though corporations may have a limited life specified in their instrument of creation. By way of contrast, an unincorporated club or a simple partnership, for example, have no separate legal existence apart from that of their members or partners. Frequently, but not always, corporations are established for the purposes of undertaking particular business activities. In the UK more commonly known as a 'company'.
Loading conversations.
Similar or Related Terms
Statistics
632
Characters
113
Words
27.01
Flesch Reading Ease
14.2
Flesch Kincaid Grade