corporation meaning

[ ˌkɔ:pə'reiʃən ] Pronunciation:   "corporation" in a sentence
Noun: corporation  `korpu'reyshun
  1. A business firm whose articles of incorporation have been approved in some state
    - corp 
  2. Slang for a paunch
    - pot, potbelly, bay window, tummy

Derived forms: corporations

See also: corporate

Type of: belly, business firm, firm, house, paunch

Encyclopedia: Corporation


[Business]
AmE / noun [C]

CLOSELY HELD CORPORATION, DEVELOPMENT CORPORATION, MUNICIPAL CORPORATION, PUBLIC CORPORATION

1

a large company or group of companies:

the rise of giant corporations

Shell is one of the largest corporations in the world. See note at COMPANY

a big/giant/large/major corporation

◆ a global/multinational/transnational corporation

2 (Law ) (abbr Corp.)

a business organization that has been officially created (incorporated) and is owned by shareholders:

the IBM Corporation

They formed a corporation to buy and develop the property.

❖ to create/form/set up a corporation

◆ to dissolve/liquidate a corporation

3

a large organization that is created by the government, in order to provide a particular service to the public:

the British Broadcasting Corporation

WHICH WORD?

corporation/company

In both BrE and AmE, the word company can refer to any type of business organization, but it usually refers to a business that has been incorporated (= created according to a particular set of laws).

The laws of different countries allow for different types of companies to be created. The type of company is shown by an abbreviation after its name (See note at LTD).

In AmE, but not BrE, the word corporation is used after the name of a business to show that it has been incorporated.

In BrE, the word corporation is usually used for foreign or international companies or public organizations:

a multinational corporationthe British Broadcasting Corporation (BBC)


[Economics]
A succession of persons or body of persons authorized by law to act as one person and having rights and liabilities distinct from the individuals forming the corporation. The artificial personality may be created by royal charter, statute, or common law. The most important type is the registered company formed under the Companies Act. Corporations sole are those having only one individual forming them; for example, a bishop, the sovereign, the Treasury Solicitor. Corporations aggregate are composed of more than one individual e.g. a limited company. They may be formed for special purposes by statute; the BBC is an example. Corporations can hold property, carry on business, bring legal actions, etc, in their own name. Their actions may, however, be limited by the doctrine of ultra vires.

See also:

public corporation.


[Finance]
A legal entity that is separate and distinct from its owners. A corporation is allowed to own assets, incur liabilities, and sell securities, among other things.

[Law]
(body corporate) n. An entity that has legal personality, i.e. it is capable of enjoying and being subject to legal rights and duties (see JURISTIC PERSON) and possesses the capacity of succession. A corporation aggregate (e.g. a company registered under the Companies Acts) consists of a number of members who fluctuate from time to time. A corporation sole (e.g.the Crown) consists of one member only and his or her successors. See alsoINCORPORATION.

Examples

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  1. chrysler corporation ought to survive.
  2. large corporations have the financial strength.
  3. the firm has ties with an american corporation.
  4. a corporation is treated by the law as an entity.
  5. all corporations must have some stated capital.

Related Words

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  4. corporately meaning
  5. corporateness meaning
  6. corporation aggregate meaning
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