Corporation A corporation is the form of business organization that has the largest sales volume. A corporation is an organization created by law with a continuous existence independent of the existence of its members, power, and liabilities. This means a corporation has its own power and it can own properties. A corporation has similar rights and responsibilities as a person. However, it does not have a right to vote as humans.
A corporation can be sued for committing crimes. A corporation is not owned by one person. It is owned by a group of shareholders. In fact, the term corporation originated from the Latin word “corpus” which stands for “body of people”. The affair of a corporation is governed by a board of directors. The board of Directors approved the major decisions of the organization. The board of Directors is often elected by the shareholders of the corporation and they only serve for a limited time.
The form of business organization that comes with a large sales volume is called a corporation. A corporation is known to be a group of people or a company that is recognized by the law as a single entity. For example, if there are different people who are handling the business, it would be called a corporation so that they can have the benefits that individuals in business may usually have.
For example, they will be able to form and create contracts. Sue other corporations, especially if they feel that people have done them wrong, and so much more. This is usually preferred by a lot of people who would like to get the many benefits that they want.