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 ?
86-272 must carefully isolate its solicitation activities (and activities ancillary to solicitation) into a separate corporate entity and ensure that this entity operates as an independent corporation that deals with its affiliates on an arm's-length, independent basis.
The agreement will identify the actions necessary to bring the single corporate entity into effect -- feasibly by 1999.
Linear is a fine-tuned corporate entity that maximizes its strengths and minimizes its weaknesses and risks, and its success contradicts many of the generally accepted business rules and success parameters.
which will serve as the corporate entity for SSWM project work throughout Mexico.
In order to better suit the company's new direction and based upon a motion made by a shareholder at the company's Annual Meeting, the company received shareholder approval to change the name of the corporate entity to Colombia Goldfields Ltd.
There have been periods in the Company's evolution when the demands of several film productions, management of various limited partnerships and the overall growth of the corporate entity outpaced the Company's managerial capacity.
Cendant's corporate and servicing management teams have remained intact despite the announcement and it is anticipated that the company's stable management team will help streamline PHH's transition to a separate corporate entity.
The corporate entity that previously held the company's assets has gone into liquidation and the company's business and operations will be continued by the acquiring company, New Skies Satellites B.

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