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What Is 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.
Definition of corporation A corporation is a legally established entity that can enter into contracts, own assets and incur debt, as well as sue and be sued?all separately from its owner(s).
A corporation is a business or organization created and lead by a group of people, but is legally considered a separate entity from its stakeholders.
A corporation, sometimes called a C corp, is a legal entity that's separate from its owners. Corporations can make a profit, be taxed, and can be held legally liable. Corporations offer the strongest protection to its owners from personal liability, but the cost to form a corporation is higher than other structures.
Corporate means relating to large companies, or to a particular large company. Interest rates are higher for corporate clients than for private clients. The economy is growing, and corporate profits are rising. Corporate means relating to large companies, or to a particular large company.