corporation

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Related to Incorporated business: unincorporated business

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 ?
As the owner of an incorporated business, you can choose to receive income as salary or dividends.
began operating as a new locally incorporated business entity, taking over the banking operations of its predecessor Citibank N.
In contrast, only 15% of incorporated business owners had this debt.
Pittsburgh Roll Off Service is a separately incorporated business that operates from the same two locations as Castriota Metals & Recycling.

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