What is Corporation?
A corporation is a legal entity (distinct from a natural person) that often has similar rights in law to those of a natural person. Civil law systems may refer to corporations as "moral persons;" they may also go by the name "AS" (anonymous society) or something similar, depending on language (see below).
The word "corporation" derives from the Latin corpus (body), representing a "body of people", i.e.: a group of people authorized to act as an individual (Oxford English Dictionary). The word universitas also used to refer to a group of people but now refers specifically to a group of scholars (see University). However, in colloquial usage "corporation" usually refers to a commercial entity set up in accordance with a governmental framework.
Churches, interest-groups (both can form as not-for-profit corporations or can exist as voluntary associations), cities and townships (often chartered as public corporations), among others, may also have historically lengthy corporate identities.
This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia Article: Corporation.
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