Corporation Definition - Business Communication Words

A corporation is a separate entity with almost a life of its own. It is responsible for its income, expenses, legal requirements, and all other aspects as if it were a person with minimal liability of the people that work for the corporation. The exception is often the officers who are officially responsible for the works of the corporation.

"Unlike small business, our corporation pays a lot more taxes, though also enjoys a lot more freedom to do business as well."

"Rather than a partnership, we decided to establish a limited liability corporation when we formed."

"Our corporation has a CEO, CFO, CTO, and CCO."

"We changed company to corporation in our name when we incorporated."