corporation
Sign in to savethumb|upright=0.95|McDonald's|McDonald's Corporation is one of the most recognizable corporations in the world.
AI overview
A corporation is a legal business structure that operates as its own entity separate from the people who own it, allowing it to enter contracts, own property, and be held responsible for its actions. Corporations matter because they enable large-scale business operations—like McDonald's, one of the world's most recognizable examples—by pooling resources and spreading financial risk among multiple owners.
AI-generated from the Wikipedia summary — may contain errors.
Article
15 sectionsContents
- History
- Mercantilism
- Development of modern company law
- Deregulation
- Limited liability
- Further developments
- Ownership and control
- Formation
- Naming
- Personhood
- See also
- Notes
- References
- Further reading
- External links
thumb|upright=0.95|McDonald's|McDonald's Corporation is one of the most recognizable corporations in the world.
A corporation or body corporate is an individual or group, such as an association or company, that has been 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.'''' Early incorporated entities were established by charter (i.e., by an ad hoc act granted by a monarch or passed by a parliament or legislature). Most jurisdictions now allow the creation of new corporations through registration. Corporations come in many different types but are usually divided by the law of the jurisdiction where they are chartered based on two aspects: whether they can issue stock, or whether they are formed to make a profit. Depending on the number of owners, a corporation can be classified as aggregate (the subject of this article) or sole (a legal entity consisting of a single incorporated office occupied by a single natural person).