corporation

(redirected from Incorporated businesses)
Also found in: Dictionary, Thesaurus, Legal, Financial, Encyclopedia.

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 ?
Men who owned incorporated businesses earned considerably more than those who did not own incorporated businesses (excluding side business owners in both categories): the median earnings of male owners of incorporated businesses ($24,012) were almost 80 percent higher than that of their counterparts who owned unincorporated businesses ($13,520).
9 percent of sole proprietorships employed three workers or more; the comparable figure for partnerships and incorporated businesses is 66.
Not included among the self-employed, but nonetheless members of the entrepreneurial class, are owners of incorporated businesses and owners of side businesses.
Annualized earnings varied from about $3,700 for female sole proprietors to $24,000 for male owners of incorporated businesses.
2 Prior to 1967, no distinction was made in the CPS between persons operating unincorporated and incorporated businesses.
This was very welcome news for nearly half a million small incorporated businesses, but it does not help the millions of self employed people who do not gain through this generous move.
Full browser ?