What do you mean by a corporation?

: a corporation that exists as a legal entity without independent assets or operations as an instrument by which another company or corporation can carry out dealings usually unrelated to its primary business : a corporation formed for purposes of tax evasion or acquisition or merger rather than for a legitimate business purpose

What is a corporation & how does it work?

A corporation is a type of business owned by shareholders and overseen by an elected board of directors. Find out the full definition of a corporation in this post. Corporations are businesses that are treated like individual people by the law. A corporation can own assets, hire employees, sign contracts, and exercise individual rights.

Is a corporation a legal entity?

A corporation is a type of business entity that is authorized, by the state in which it is registered, to operate. A corporation functions almost like an artificial person in carrying on its business, or other activities. In fact, a properly formed corporation is a legal entity endowed with the characteristic of “personhood.”