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corporation |
Also found in: Legal, Financial, Encyclopedia, Wikipedia, Hutchinson | 0.02 sec. |
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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. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| In a deal which represents its first corporate store in SoHo, Verizon Wireless, whose corporate entity is New York SMSA Limited Partnership, has signed a 4,750 s/f, ten-year lease, to occupy the ground floor of 581 Broadway between Houston and Prince Streets. Additionally, erosion of policy limits by even a solvent corporate entity often left individual directors and officers with little or no residual coverage for their own defense and settlement. While this independence makes them ripe for acquisition by a larger advertising or media company, it could also be threatened if merged into a corporate entity. |
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Corporate entity
