Example: Corporation is a legal entity separate from its owners and shareholders
Definition
"The corporation" is a legal entity recognized by law as separate from its owners and shareholders, capable of rights and responsibilities such as entering contracts, owning property, and being liable for debts. It functions independently from the individuals who control or invest in it.
The term "the corporation" originates from the Latin word 'corporatio,' meaning 'a body or a group of people.' It was adopted into English to describe an organized group acting as a single entity, particularly in legal and business contexts. Did you know? The concept of corporations dates back to medieval guilds and religious organizations.
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"The corporation" appears in the Vocaplus list "English - Finance - (A1-C2) - set 1", containing 150 commonly used words.
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