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corporation |
Also found in: Legal, Financial, Encyclopedia, Wikipedia, Hutchinson | 0.04 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. |
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| Pittsburgh Roll Off Service is a separately incorporated business that operates from the same two locations as Castriota Metals & Recycling. The seller of an incorporated business generally prefers to dispose of stock, while a buyer prefers to purchase corporate assets. Owners: Karin Clarke is gallery director and sole owner of the incorporated business. |
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Incorporated business
