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What does a corporation mean?

A corporation is an organization —usually a group of people or a company —authorized by the state to act as a single entity (a legal entity recognized by private and public law as "born out of statute"; a legal person in a legal context) and recognized as such in law for certain purposes.

Is a corporation a legal entity?

A corporation is a legal business entity that is separate and distinct from its owners and has many of the same rights and responsibilities as an individual.

Who creates a corporation?

A corporation may be created by an individual or a group of people. A corporation is created when a business is incorporated by a group of shareholders with a common goal. Shareholders share ownership of a business, as represented by their holding of stock shares. Corporations may return a profit to their shareholders.

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