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'.
An artificial person, created by law that has certain powers and duties of a natural person.
A corporation is a fictitious legal entity (or person) that has rights and duties independent of the rights and duties of real persons and is legally authorized to act in its own name through duly appointed agents. It is liable for debts and can make contracts and pay taxes. Corporations exist only because state statutory laws allow them to be created.Companies may be registered as C-Corporations, S-Corporations, or Limited Liability Corporations (LLC).
A legal entity which has its own individuality, in accordance with local law, separate and distinct from its members, directors and incorporators.
Legal entity formed under the authority of either provincial or federal statues usually formed to make a profit. Liabilities of shareholders (owners) are generally limited to the amount of their investment. The name of a corporation ends with Limited, Ltd., incorporated, Inc., Corporation or Corp.
A corporation is an artificial being, invisible, intangible, and existing only in contemplation of law. Being the mere creature of law, it possesses only those properties, which the charter of its creation confers upon it, either expressly or as incidental to its very existence.
A legal designation given to a company recognized as its own entity, independent of its directors and founders. Because everyone within a corporation is an employee, no single individual is liable for the company's debt of failure. Corporations issue stocks and bonds.
A legal entity that is separate and distinct from its owners. A corporation is allowed to own assets, incur liabilities, and sell securities, among other things.
A separate entity created by law. Investors in the corporation hold shares of stock. The corporation benefits from any profits generated and is responsible for any losses received. Shareholders may receive dividends on stock and incur any appreciation or depreciation on the sale of their shares of stock. Shareholders are not liable for any debts incurred by the corporation. Creditors can attach a shareholder's shares in the corporation.
An organization formed under state law for the purpose of carrying on a business enterprise in such a manner as to make the enterprise distinct from its owners.
A retail firm that is formally incorporated under state law. It is a legal entity apart from individual officers (or stockholders).
A form of business organization in which the business is a legal entity separate from its owners and employees. Corporations can act, own property, or have claims brought against them in their own name, as compared, for example, to a sole proprietorship, in which all legal benefits and liabilities (even where a business name is used) are personal to the owner.
A business that is legally established under state laws that grant the business an identity separate from its owners.
A legal entity (usually a business), distinct from its shareholders, which has the authority to act as a natural person.
A legal entity that has been granted authority by a state that allows the corporation to act as if it was a person that is distinct from the shareholders who own the corporation. Corporations may issue stock and exist beyond the lifespan of its shareholders.
A business whose articles of incorporation have been approved in some state. For insurance purposes, the type of business structure helps to determine who is insured on the policy.
A corporation is: a separate legal entity created by the act of incorporation under the Alberta Business Corporations Act, the Canada Business Corporations Act, or some other statute capable of making contracts in its own right and performing all the acts necessary for the operation of the business, and commonly called a limited company. When a corporation is struck from the Corporate Registry it ceases to exist as a corporation relative to the legislation under which it is registered. That corporation ceases to be an employer under the Act.(Source: Policy 06-01)
The most common from of business organization that is chartered by a state and given many legal rights as a separate entity from its owners.
A form of business organization where the firm has a legal existence separate from that of its owners. Corporations can be privately owned or publicly traded.
The Waterfront Development Corporation. DEVELOPMENT ACTIVITY. Any alteration, new construction or demolition of a structure, a change in business identification signs, a change in the use of a property, or the construction of public parking or other publicly accessible area.
Type of company, created under federal or provincial legislation, which is legally separate and distinct from its shareholders. The shareholders' responsibility for the corporation's debts cannot exceed their invested capital.
A legal entity, chartered by a U.S. state or the federal government, and separate and distinct from the persons who own it. It is regarded by the courts as an artificial person; it may own property, incur debts, sue or be sued.
group of individual legal ly empowered to transact business as one body. [D02574] RMW company or business formed by law in which shares of stock are offer ed as an incentive for investment. [D02575] PMDT
A legal entity owned by stockholders whose liability is limited to the value of their stock.
A corporation is a legal entity that separates a business owner from his or her business. Corporations are formed at the state level and are subject to that state's Business Corporation Act.
the most common form of organizing a business — the organization's total worth is divided into shares of stock, and each share represents a unit of ownership and is sold to stock holders. A corporation is considered a separate entity from the stockholders for legal and tax purposes. Examples of corporations: Pepsi Cola, Intel, The Gap.
A business incorporated under the laws of a state or other jurisdiction.
An association of individuals, under authority of law, whose powers and liabilities are distinct from those of its individual members
A business entity owned by stockholders; considered an artificial person under law.
A group or body of persons established and created by law as an individual or unit with rights and liabilities distinct and apart from those of the persons composing it.
A business entity owned by shareholders, who have limited liability for the business's debts. A corporation is an entity distinct from its shareholders and enjoys perpetual life.
One of the three basic forms of business organization (the other two being proprietorship and partnership). A corporation is a business established through ownership shares (termed corporate stock). A corporation is considered a distinct legal person which can be sued, forced to pay taxes, etc., just like a human person. Unlike proprietorships and partnerships, a corporation exists separately from it's owners. As such, the owners have what is termed limited liability. Owners can not be held personally responsible for corporate debts. They owners can only lose the value of their ownership shares, but no more.
An artificial person or legal entity created by or under the authority of the laws of a state, consisting of an association of numerous individuals; regarded in law as having a personality and existence distinct from that of its several members, and which is, by the same authority, vested with the capacity of continuous succession, irrespective of changes in its membership, either in perpetuity or for a limited term of years, and of acting as a unit or single individual in matters relating to the common purpose of the association, within the scope of the powers and authority conferred upon such bodies by law.
An artificial entity created under and governed by the laws of the state of incorporation.
The basic existence of a corporation usually derives from two documents: the Articles of Association and the Certificate of Incorporation.
A type of business organization formed under the Maryland General Corporation Law.
ssociation of people in a group that has powers and liabilities as defined by law. Individuals in the group are generally considered to be united as officials and/or owners. Corporate means united or combined into one; therefore, the term corporate ownership means the legal right of possession of a group of individuals as one body.
a business owned by two or more people (stockholders) who risk only the money they invest. Their share in the company is reflected by the stocks they hold. A corporation operates separate from its owners and has rights and responsibilities just like a person. Owner risk is no more than what the stockholder has invested. Wal-Mart and Kellogg are corporations.
An entity created to act as an individual when engaging in business and finance, but limiting the personal liability of its stockholders.
A legal entity authorized to carry on business. A public corporation has shares that trade on stock markets; any person or company can buy or sell these shares. A private corporation also has shares, but outsiders cannot buy them without an offer from an existing owner.
An artificial being, created by law; and possessing certain rights, privileges, and duties of natural persons.
A group of persons granted a state charter legally recognizing them as a separate entity having its own rights, privileges, and liabilities distinct from those of its members. The process of incorporating should be completed with the state's secretary of
An organization recognized a a person in the law that is set up to conduct a business owned by shareholders and run by officers and directors
An association of shareholders, created under law, having a legal identity separate from the individuals who own it.
A separate legal entity owned by its shareholders whose ownership interests are represented by shares of stock. Also see “Limited liability company,” “Limited partnership,” “Partnership,” “Sole proprietorship,” and “Subchapter S corporation.
A business form that is an entity legally separate from its owners. Its important features include limited liability, the ability to own assets, incur debt and sell securities.
An entity authorized by law and established by a group of people, the stockholders, which is endowed with certain rights, privileges and duties similar to an individual.
The most common form of business organization. Corporations are chartered by a state and given many legal rights as an entity separate from its owners. This form of business is characterized by the limited liability of its owners, the issuance of shares of easily transferable stock, and existence as a going concern. The process of becoming a corporation (“incorporation”), gives the company separate legal standing from its owners and protects those owners from being personally liable in the event that the company is sued or cannot meet its obligations. Incorporation also provides company founders with a flexible way to share ownership and sets up a separate entity for tax purposes.
A business entity which is owned by shareholders who decide on the general policies of the company through their elected board of directors. A corporation is a separated legal entity and therefore has the right and liabilities of an individual. Shareholders do not share directly in the income of a corporation, but they may receive Dividends.
One or more individuals (determined by local law) organized and treated by law as having a legal individuality distinct from that of its several members; vested with the capacity of continuous succession irrespective of changes in its membership. (A stockholder of a corporation is usually not liable to creditors of a corporation).
A form of business organization having a legal entity independent of its owners. The corporation's owners (shareholders) have no liability for its debts.
A business organization under the law with certain rights and responsibilities in which the worth is divided into shares of stock.
A for-profit commercial or industrial enterprise constituted by one or more persons but authorized by law to act as a single entity.
A legal entity, formed by the issuance of a charter from the state. A corporation is owned by one or more stockholders.
A form of ownership in which a separate legal entity is created. A corporation may sue or be sued, engage in contracts and acquire property. It has a continual life and is not dependent on any one shareholder for maintaining its legal existence. Shareholders who enjoy the privilege of limited liability own a corporation. There is, however, the potential for double taxation in the corporate form of organization – the first time at the corporate level in the form of profits, and again at the shareholder level in the form of dividends.
An entity or organization created by operation of law whose rights of doing business are essentially the same as those of an individual. The entity has continuous existence until dissolved according to legal procedures.
A corporation is a legal entity that can exist separately from its owners; it is created from the moment the articles of incorporated are made and filed with the proper concerned government agency
A corporation is a legal person. Corporations are businesses that are publicly owned.
A fictitious legal entity/person which has rights and duties independent of the rights and duties of real persons and which is legally authorized to act in its own name through duly appointed officers. It is owned by shareholders. Usually created under the authority of state law.
A legal, taxable entity chartered by a state or the federal government. Ownership of a corporation is held by the stockholders.
An entity chartered by a state to act as a single enterprise with certain legal rights whose owners remain separate and assume limited liability.
A form of business authorized by federal, provincial, or territorial law to act as a separate legal entity. Its purpose and regulations are set out in its article of incorporation. One or more persons may own a corporation.
Setting up an ownership that is separate from the owners. Business owners do this to protect their personal non-business assets from lawsuits.
A legal entity created by the registration of appropriate incorporating documents with the supervising government office. May be private (ownership held by specific individuals and not traded on a public stock exchange) or public (shares traded on stock exchange). Shareholders are protected from liability for the actions of the corporation. Corporations may enter contracts and own property.
A legal entity chartered by a state; ownership is represented by transferable shares of stock.
Form of doing business pursuant to a charter granted by a state or federal government. Corporations typically are characterized by the issuance of freely transferable CAPITAL STOCK, perpetual life, centralized management, and limitation of owners' LIABILITY to the amount they invest in the business.
a legal entity created under state corporate laws. Once established, a corporation has its own legal powers, rights, and liabilities, distinct from those of its owners or managers.
1) A group of people, such as a guild or city, with a legal collective identity. 2) A joint-stock, limited liability corporation.
A type of business organization that exists separately from its owners. A corporation has a charter giving it legal rights and responsibilities that protect its owners by limiting their potential obligation and losses. Corporations raise capital and distribute ownership by selling shares of stock.
A business organization chartered by a state secretary as a recognized legal institution of and by itself and operated by an association of individuals, with the purpose of ensuring perpetuity and limited financial liability.
A type of business organization in which the business becomes a legal entity.
A business entity treated as a person in the eyes of the law. A corporation is allowed to own assets, incur liabilities and sell securities, among other things. It is also able to be sued.
A legal business entity created under federal or provincial statutes. Because the corporation is a separate entity from its owners, shareholders have no legal liability for its debts.
A legal entity which can own property, incur debts, sue, and be sued. Corporations provide for limited liability, easy transfer of ownership and continuity of existence.
A form of legal entity created under state law. This entity is treated much like an individual under law, and therefore, the term "person" in law usually means both individuals and corporations. Corporations are governed by their Articles of Incorporation and Bylaws.
A legal, taxable entity chartered by a state or the federal government and owned by its shareholders.
A legal entity chartered by a state or the federal government and is separate and distinct from the persons who own it. A corporation is considered an artificial person--it may own property, incur debts, sue or be sued. Some distinguishing features of corporations are: * Ownership is held by stockholders who have limited liability--that is, they can only lose what they invest. * Transfer of ownership is accomplished through the sale of stock shares. * Perpetual existence (unless ended through bankruptcy, a merger, tender or takeover). See: Bylaws; Corporate Charter; Corporate Resolution; Limited Liability
An artificial or fictitious person formed to conduct specified types of business activities.
An artificial person or legal entity created by or under the authority of the law of a state. May have limited liability, perpetual life, freely transferable shares and centralized management.
An organization treated by law as an individual with rights and liabilities distinct from those of the persons composing the corporation.
A form of business authorized by federal, provincial, or territorial law to act as a separate legal entity. Its purpose and regulations are set out in its article of incorporation. A corporation may be owned by one or more persons.
A legal entity, allowed by legislation, which permits a group of people, as shareholders (for-profit companies) or members (non-profit companies), to create an organization, which can then focus on pursuing set objectives, and empowered with legal rights which are usually only reserved for individuals, such as to sue and be sued, own property, hire employees or loan and borrow money. Also known as a " company." 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 absorbs the entire liability of the organization.
America's modern method of organizing and financing large enterprises, corporations, were rare before the Civil War. There was a strong cultural bias against corporations in the early nineteenth century, and chartering corporations often required a special act by a state legislature.
The most common form of business organization. The total worth of the organization is divided into shares of stock, each representing a unit of ownership. A corporation is ongoing and the owners face only limited liability.
A legal entity that exists separately from its owners and that can enter into contracts, sue in court or be sued, own property, and engage in other business transactions.
A legal entity monitored by the local, state, and national governments.
Form of business ownership that is a legal entity on its own and puts stockholders and the board of directors in control. Owners have limited liability for the corporation's actions. A corporation has unlimited life and in most cases is taxed as an entity on its own.
A company, administered under the Corporations Law.
A legal structure authorized by state law that allows a business to organize as a separate legal entity from its owners. A nonprofit is often referred to as an "artificial legal person," meaning that, like an individual, it can enter into contracts, sue and be sued and do the many other things necessary to carry on a business. One advantage of incorporating is that a corporation's owners (shareholders) are legally shielded from personal liability for the corporation's liabilities and debts (unpaid taxes are often an exception). In theory, a corporation can be organized either for profit-making or nonprofit purposes. Most profit-making corporations are known as C corporations and are taxed separately from their owners, but those organized under subchapter S of the Internal Revenue Code are pass-through tax entities, meaning that all profits are federally taxed on the personal income tax returns of their owners.
The most common form of business organization. Corporation is a legal entity created through the laws of its state of incorporation 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 perpetual existence. The law treats a corporation as a legal "person" that has standing to sue and be sued, distinct from its stockholders. The legal independence of a corporation prevents shareholders from being personally liable for corporate debts. Although corporations have a double taxation problem (both corporate profits and shareholder dividends are taxed), corporate profits are taxed at a lower rate than rates for individuals.
A legal entity organized under state laws that is considered separate from its owners. Ownership is evidenced by shares of stock. To Top
A corporation is a legal entity which, while being owned collectively by a number of natural persons or other legal entities, can exist completely separately from them. This separation gives the corporation unique powers which other legal entities lack. The extent and scope of its status and capacity is determined by the law of the place of incorporation.
In feudal Europe, corporations were aggregations of business interests in compact, usually with an explicit license from city, church, or national leaders. These functioned as effective monopolies for a particular good or labor.