corporation

noun

cor·​po·​ra·​tion ˌkȯr-pə-ˈrā-shən 

1

a

: a group of merchants or traders united in a trade guild (see guild sense 1)

b

: the municipal authorities of a town or city

2

: a body formed and authorized by law to act as a single person although constituted by one or more persons and legally endowed with various rights and duties including the capacity of succession

3

: an association of employers and employees in a basic industry or of members of a profession organized as an organ of political representation in a corporative state

4

: potbelly sense 1

Synonyms

• bay window
• beer belly
• belly
• gut
• paunch
• pot
• potbelly

Examples of corporation in a Sentence

He works as a consultant for several large corporations.

a substantial corporation that showed that he was a sucker for all-you-can-eat buffets

Recent Examples on the Web

Jernigan said in Monday’s hearing that TGI Fridays will be allowed to continue its gift-card program, which would give franchisees more time to review finances and meet with the central corporation. —Sasha Rogelberg, Fortune, 5 Nov. 2024

Launchpad, Prince William said at the Nov. 5 panel, puts people together with the corporations and finance that can help. —Simon Perry, People.com, 5 Nov. 2024

They can be issued by corporations, states, municipalities, or multilateral organizations like the World Bank. —Christer Holloman, Forbes, 5 Nov. 2024

Now, a small but growing number of marquee-name corporations have stepped back. —Bloomberg, The Mercury News, 4 Nov. 2024

Word History

Etymology

Middle English corporacion "organization into a body politic, an organized body of people," borrowed from Anglo-French & Late Latin; Anglo-French corporacion, borrowed from Late Latin corporātiōn-, corporātiō (Latin, "physical makeup"), from Latin corporāre "to form into a body" + -tiōn-, -tiō, suffix of action nouns — more at corporate

First Known Use

15th century, in the meaning defined at sense 1b

Phrases Containing corporation

• close corporation
• closed corporation
• professional corporation
• public-service corporation
• S corporation

Kids Definition

corporation

noun

cor·​po·​ra·​tion ˌkȯr-pə-ˈrā-shən 

: a group that is authorized by law to carry on an activity (as a business enterprise) with the rights and duties of a single person

Legal Definition

corporation

noun

cor·​po·​ra·​tion ˌkȯr-pə-ˈrā-shən 

: an invisible, intangible, artificial creation of the law existing as a voluntary chartered association of individuals that has most of the rights and duties of natural persons but with perpetual existence and limited liability see also pierce compare association, partnership, sole proprietorship

— benefit corporation

: a for-profit corporation whose purpose is to provide a benefit to society (such as improving the environment or promoting good health) in addition to making a profit for shareholders

called also B corporation, public benefit corporation

— C corporation

: a corporation that pays taxes as a corporate entity compare S corporation in this entry

Note: A corporation that does not choose to be an S corporation under the Internal Revenue Code is a C corporation.

— close corporation \ ˈklōs-​ \

: a corporation whose shares are held by a small number of individuals (as management) and not publicly traded

specifically : small business corporation in this entry

called also closely held corporation

compare public corporation in this entry

— foreign corporation

: a corporation organized under the laws of a state or government other than that in which it is doing business

— government corporation

: public corporation in this entry

— moneyed corporation

: a corporation (as a bank) authorized to engage in the investment, exchange, or lending of moneyed capital

— municipal corporation

: a political unit created or otherwise given corporate status (as by a charter) by a superior governing authority (as a state) and endowed with powers of local self-government (as eminent domain)

broadly : a public corporation (as a utility) created to act as an agency of administration and local self-government

Note: As a result of its incorporation, a municipal corporation has the capacity to sue and be sued. Citizens as well as officials are usually considered part of a municipal corporation.

— professional corporation

: a corporation organized by one or more licensed individuals (as a doctor or lawyer) to provide professional services and obtain tax advantages

— public corporation

: a government-owned corporation (as a utility or railroad) engaged in a profit-making enterprise that may require the exercise of powers unique to government (as eminent domain)

called also government corporation, publicly held corporation

: a business corporation whose stocks are publicly traded

called also publicly held corporation

compare close corporation in this entry

— S corporation

: a small business corporation that is treated for federal tax purposes as a partnership

called also subchapter S corporation

compare c corporation in this entry

— shell corporation

: a corporation that exists as a legal entity without independent assets or operations as an instrument by which another company or corporation can carry out dealings usually unrelated to its primary business

: a corporation formed for purposes of tax evasion or acquisition or merger rather than for a legitimate business purpose

— small business corporation

: a corporation described in section 1361 of the Internal Revenue Code that has 35 shareholders or less and only one class of stock and that may if eligible elect to be an S corporation and taxed accordingly

— subchapter S corporation

: s corporation in this entry

Etymology

Late Latin corporatio, from Latin corporare to form into a body, from corpor-, corpus body