An incorporated entity is a separate legal entity that has been incorporated through a legislative or registration process established through legislation. Incorporated entities have legal rights and liabilities that are distinct from its shareholders, and may conduct business for either profit-seeking business or not for profit purposes. Early incorporated entities were established by charter (i.e. by an ad hoc act granted by a monarch or passed by a parliament or legislature). Most jurisdictions now allow the creation of new corporations through registration. In addition to legal personality, registered companies tend to have limited liability, be owned by shareholders who can transfer their shares to others, and controlled by a board of directors who the shareholders appoint.
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Some articles on corporation:
... IVAX Corporation was a Miami, Florida, United States public corporation focused on manufacturing and distributing generic pharmaceutical products ...
... (LP) Low-profit limited liability company (L3C) Not-for-profit corporation Partnership Sole proprietorship Trust company, Trust law ...
More definitions of "corporation":
- (noun): A business firm whose articles of incorporation have been approved in some state.
Famous quotes containing the word corporation:
“The nearest the modern general or admiral comes to a small-arms encounter of any sort is at a duck hunt in the company of corporation executives at the retreat of Continental Motors, Inc.”
—C. Wright Mills (19161962)
“What I am anxious to do is to get the best bill possible with the least amount of friction.... I wish to avoid [splitting our party]. I shall do all in my power to retain the corporation tax as it is now and also force a reduction of the [tariff] schedules. It is only when all other efforts fail that Ill resort to headlines and force the people into this fight.”
—William Howard Taft (18571930)
“It is truly enough said that a corporation has no conscience; but a corporation of conscientious men is a corporation with a conscience.”
—Henry David Thoreau (18171862)