corporation

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corporation

a business entity such as a company incorporated under legislation, usually a Companies Act, which can make the shareholders legally responsible only for the profits and debts of the company. That is the shareholders are not personally responsible. It has been held for generations that members of professions could not practice as corporations because they would lose their personal responsibility to their clients. It is becoming more common for this rule to be discarded.
References in periodicals archive ?
Corel Corporation (NASDAQ: CREL; TSX: CRE), a leading global software provider, and Future Image, a market research and consulting firm focused on the future of imaging, today outlined the upcoming new technology developments, industry standards, and market trends that will make the power of digital images more accessible to the mass market and corporate enterprises in the future.
Optovia(TM) Corporation, a leading optical line systems company providing solutions for telecommunications carriers, cable system operators, and corporate enterprises, today announced an OEM agreement with ADVA Optical Networking (OTC: ADVOF.
Optovia Corporation is a leading developer of optical transport subsystems for telecommunications carriers, cable provider networks, and corporate enterprise applications.
Safeguard Enterprise PDF Security provides PDF DRM protection for large publishers and corporate enterprises.
Later cases have indicated that an individual's loan to a corporation is treated as a business debt only in certain limited circumstances, for example, if the loan arises as part of the business of lending money, or as part of the business of developing, promoting and selling corporate enterprises.

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