Corporation (US law)/Definition: Difference between revisions
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In commerce, an organisation that is jointly owned by shareholders who participate in its profits but are not personally liable for its debts. More generally, a legal entity that is distinct from its owners and may employ people, buy and sell assets, and lend or borrow money. | |||
Revision as of 04:26, 23 December 2009
In commerce, an organisation that is jointly owned by shareholders who participate in its profits but are not personally liable for its debts. More generally, a legal entity that is distinct from its owners and may employ people, buy and sell assets, and lend or borrow money.