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A corporation is an organization—usually a group of people or a company—authorized by the state to act as a single entity (a legal entity recognized by private ...
A limited liability company: "A company—statutorily authorized in certain states—that is characterized by limited liability, management by members or managers, and limitations on ownership transfer", i.e., L.L.C. [10] LLC structure has been called "hybrid" in that it "combines the characteristics of a corporation and of a partnership or ...
A multinational corporation (MNC) is usually a large corporation incorporated in one country that produces or sells goods or services in various countries. [20] Two common characteristics shared by MNCs are their large size and centrally controlled worldwide activities. [21] Importing and exporting goods and services
Transnational corporations share many qualities with multinational corporations, but there is a subtle difference.Multinational corporations consist of a centralized management structure, whereas transnational corporations generally are decentralized, with many bases in various countries where the corporation operates. [1]
A corporation was defined in the Dartmouth College case of 1819, in which Chief Justice Marshall of the United States Supreme Court stated: "A corporation is an artificial being, invisible, intangible, and existing only in contemplation of the law." A corporation is a legal entity, distinct and separate from the individuals who create and ...
A corporation may be privately held (for example, a close company - see below) or publicly traded. Hybrid Types: Some countries, like Germany, the United States, and the United Kingdom have created a hybrid type of entity that has characteristics of both a corporation and a partnership.
A corporation is a personal holding company if both of the following requirements are met: [15] Gross income test: at least 60% of the corporation's adjusted ordinary gross income is from dividends, interest, rent, and royalties. Stock ownership test: more than 50% in value of the corporation's outstanding stock is owned by five or fewer ...
A corporation may accurately be called a company; however, a company should not necessarily be called a corporation, which has distinct characteristics. In the United States, a company may or may not be a separate legal entity, and is often used synonymous with "firm" or "business."