what is a corporation
A corporation is a legal entity created by individuals or shareholders to conduct business. It is characterized by limited liability, meaning that the personal assets of the owners are separate from the company's finances. Corporations can issue stock, facilitating investment from various parties. They are governed by a board of directors and must adhere to legal and regulatory requirements. This structure allows corporations to raise capital, enjoy perpetual existence, and operate independently of individual ownership changes. Corporations play a pivotal role in the global economy, contributing to innovation, economic growth, and job creation.