corporation

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Related to Corporate entity: closely held corporation

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 ?
BEIRUT: The Appeals Panel in the case against Al-Akhbar Editor-in-Chief Ibrahim al-Amin and corporate entity Al-Akhbar S.
Under Nebraska law the corporate veil can be pierced when someone seeks the assets of a corporate entity to satisfy the obligation of a controlling alter ego.
Controllers and financial people as a group have a better understanding of the corporate entity, what makes it run and what may cause its downfall than does any other group.
Toronto, asking to liquidate operations in Ontario and Quebec and to shut down as a corporate entity.
If the recipient is to be some corporate entity, as Robinson and others suggest, how can its representativeness and accountability be determined?
401(k)(10), one of which allows corporate entities selling at least 85 percent of their assets to another corporate entity to make lump sum distributions upon plan termination.
2 commercial jet maker behind Boeing, into its own corporate entity, though talks on revamping Airbus have recently bogged down.
One of the most fundamental decisions you make when getting your business off the ground is selecting its corporate structure, or what's known as its corporate entity.

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