corporation

A legal entity that is separate and distinct from its owners. A corporation is allowed to own assets, incur liabilities ( liability), and sell securities, among other things. Bloomberg Financial Dictionary

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An entity created by or under the authority of the laws of a state or foreign corporation statute or limited liability company (" LLC") statute. References in the Rules of the exchange to shareholders shall also be deemed to refer, in the case of an LLC, to LLC members; references to equity securities shall also be deemed to refer, in the case of an LLC, to LLC membership interests; and references to officers or directors shall also be deemed to refer, in the case of an LLC, to LLC managers. Chicago Mercantile Exchange Glossary

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corporation cor‧po‧ra‧tion [ˌkɔːpəˈreɪʆn ǁ ˌkɔːr-] written abbreviation corp. noun [countable] ORGANIZATIONS

1. a large company or group of companies acting together as a single organization:

• the Sony Corporation

• Mesa has completed its conversion from a partnership to a corporation.

2. in Britain, a large company or a public organization:

• the British Steel Corporation

• the Corporation of the City of London

• the British Broadcasting Corporation

de ˌfacto corpoˈration LAW

in the US, a corporation that has not been properly formed according to law, but is allowed to exist as if it has been

deˌvelopment corpoˈration ORGANIZATIONS

a government organization responsible for a development area:

• The Teesside Development Corporation has planning powers over the site.

ˌglobal corpoˈration ORGANIZATIONS

a corporation that operates in countries all around the world:

• the market power of giant global corporations

multiˌnational corpoˈration ORGANIZATIONS

a corporation that operates in many different countries:

• He contrasts strongly the modern global corporation with the ageing multinational corporation.

ˌprivate corpoˈration ORGANIZATIONS

1. a corporation owned by people or other companies, rather than by the government:

• She opposes government aid to private corporations.

2. a corporation whose shares are not available for sale, for example because they are owned by the person who started the company:

• his private corporation, in which he and his wife are sole shareholders

ˌpublic corpoˈration

1. ORGANIZATIONS a corporation that is owned and managed by the government:

• Latin American governments are privatizing loss-making public corporations.

2. ORGANIZATIONS FINANCE a corporation with shares that are traded on a stockmarket:

• Granada Corp. rolled 11 limited partnerships into two public corporations, one of which is Granada BioSciences.

3. an organization established by the national government or a state for a particular purpose, but not to make money:

• the Job Development Authority, a public corporation

ˌvirtual corpoˈration TELECOMMUNICATIONS COMMERCE ORGANIZATIONS

a group of independent organizations that work together through computer networks to achieve their aim; = VIRTUAL ORGANIZATION:

• No longer restricted to a physical location, virtual corporations can reach the entire world and offer their services locally, nationally, or worldwide.

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corporation UK US /ˌkɔːp^ərˈeɪʃ^ən/ noun [C]

► (ABBREVIATION Corp.) WORKPLACE a large company, or a group of companies that are controlled as a single organization: »

Whether you work for a large corporation or small company, following these easy guidelines can help you to succeed.

a global/multinational corporation »

It is a global corporation with over 416,000 employees in 190 countries.

→ See also INCORPORATE(Cf. ↑incorporate)

→ See Note COMPANY(Cf. ↑company)

► GOVERNMENT in the UK, a public organization: »

The city formed a nonprofit local government corporation.

»

British Airways was a public corporation at that time.

→ See also CLOSELY HELD COMPANY(Cf. ↑closely held company), DE FACTO CORPORATION(Cf. ↑de facto corporation), DEVELOPMENT CORPORATION(Cf. ↑development corporation), GLOBAL CORPORATION(Cf. ↑global corporation), MULTINATIONAL CORPORATION(Cf. ↑multinational corporation), INCORPORATE(Cf. ↑incorporate), PRIVATE CORPORATION(Cf. ↑private corporation), PUBLIC CORPORATION(Cf. ↑public corporation), VIRTUAL ENTERPRISE(Cf. ↑virtual enterprise)