what is a corporation, a business corporation that is, please to give examples and explain, thanks?

Answer 1

The other answer on this page is dead WRONG! A corporation is a separate legal entity it has rights and pays its own taxes separately from its owners. A partnership is a business owned by more than one person but generally does not pay taxes the same and has no legal rights of its own. A corporation must also have shares that can be transfered from one owner to another. A corporation must also give its owners limited liability from debt incurred by the corporation. And finally a corporation is not dependent on the owners' existence, that is if the owner(s) die it continues on and is still a business. Also, corporations are generally but not always publicly traded. Walmart, Pepsi, Yahoo, Verizon, Johnson & Johnson, Google, and Gamestop are all examples of corporations and are all publicly traded.
A note to the other individual who answered: if you do not know something, don't answer, you are simply doing more harm than good!

Answer 2

Definition of CORPORATION -
*an entity created by a state statute
*exists separately from and independently of the owners
*may have one of more owners
*owners are called shareholders or stockholders
*ownership evidenced by stock certificate
*may have any number of employees
*employee differs from independent contractor
*must do business under a tradename

The law treats a corporation as a legal "person" that has standing to sue and be sued, distinct from its stockholders. The legal independence of a corporation prevents shareholders from being personally liable for corporate debts. It also allows stockholders to sue the corporation through a derivative suit and makes ownership in the company (shares) easily transferable. The legal "person" status of corporations gives the business perpetual life; deaths of officials or stockholders do not alter the corporation's structure.

Answer 3

A corporation is merely a business owned/controlled by more than one person