Corporation

Corporation is a person or group of people who obtain a charter giving them certain legal rights and privileges. A corporation can own property, buy and sell, manufacture products, and bring lawsuits as if its members were one person. Business corporations are the most common type of corporation. Other types are municipal, government-owned, quasi-public, nonprofit, and single-person corporations. Business corporations make up only about 15 percent of all business enterprises in the United States. Partnerships and individual proprietorships form the remainder. However, business corporations account for more than 75 percent of all business assets. read more...