Corporation is a legal entity that functions separate and apart from its owners. A corporation is a legal "person" created separately from those who own & operate it. As an artificial "person, the corporation's debts and taxes are separate from its owners (founders), thereby, offering personal liability protection of all business structures. Because the corporation continues to exist even after the death of a founders, it offers estate planning advantages. Raising capital to finance expansion, equipment, or development; without borrowing, is another fundamental reason for incorporating. Many companies that were unable to secure traditional financing as a sole proprietorship, have been literally "born" overnight by stock offerings.
Barry Goldsmith
| APA | Barry Goldsmith. (2010). corporation. Retrieved September 27, 2026, from http://smartdefine.org/corporation/definitions/1150857 |
| Chicago | Barry Goldsmith. 2010. "corporation" http://smartdefine.org/corporation/definitions/1150857 (accessed September 27, 2026). |
| Harvard | Barry Goldsmith 2010, corporation, Smart Define, viewed 27 September, 2026, <http://smartdefine.org/corporation/definitions/1150857>. |
| MLA | Barry Goldsmith. "corporation" 21 October 2010. Web. 27 September 2026. <http://smartdefine.org/corporation/definitions/1150857> |