Corporation

A legal " person" that is separate and distinct from its owners. A corporation is allowed to own assets, incur liabilities, and sell securities, among other things. The New York Times Financial 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)