Corporation (US law)/Definition: Difference between revisions
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A commercial organisation that is jointly owned by shareholders who participate in its profits but are not personally liable for its debts. A corporation is legally distinct from its owners and may employ people, own assets and lend or borrow money. | A commercial organisation that is jointly owned by shareholders who participate in its profits but are not personally liable for its debts. A corporation is legally distinct from its owners and may employ people, own assets and lend or borrow money. | ||
Revision as of 15:54, 14 May 2008
A commercial organisation that is jointly owned by shareholders who participate in its profits but are not personally liable for its debts. A corporation is legally distinct from its owners and may employ people, own assets and lend or borrow money.