Example: Corporation operates as legal business entity separate from owners
Definition
"The corporation" refers to a legal business entity that is separate and distinct from its owners, possessing its own rights and liabilities. It can enter contracts, own assets, and be held responsible for debts independently of the individuals who own it.
The term "corporation" originates from the Latin word 'corporare,' meaning 'to form into a body.' Historically, it referred to a group of people united into a single entity, which evolved into the modern concept of a legally recognized business organization distinct from its owners.
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"The corporation" appears in the Vocaplus list "English - Entrepreneurship - (A1-C2) - set 1", containing 110 commonly used words.
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