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A corporation is an organization—usually a group of ... Countries with co-determination employ the practice of workers of an enterprise having the right to vote for ...
A business entity is not necessarily separate from the owner and the creditors can hold the owner liable for debts the business has acquired. [6] The taxation system for businesses is different from that of the corporates. A business structure does not allow for corporate tax rates. The proprietor is personally taxed on all income from the ...
A modern corporate office building in Münster, North Rhine-Westphalia, Germany An office building of Nokia Corporation in Hervanta, Tampere, Finland. A company, abbreviated as co., is a legal entity representing an association of legal people, whether natural, juridical or a mixture of both, with a specific objective.
According to Black's Law Dictionary, in America a company means "a corporation — or, less commonly, an association, partnership or union — that carries on industrial enterprise." [3] Other types of business associations can include partnerships (in the UK governed by the Partnership Act 1890), or trusts (such as a pension fund), or ...
A corporation is owned by one or more shareholders and is overseen by a board of directors, which hires the business's managerial staff. Corporate models have also been applied to the state sector in the form of government-owned corporations. A corporation may be privately held (for example, a close company - see below) or publicly traded.
A corporate group is composed of companies. The general rule is that a company is a separate legal entity from its shareholders, that is the shareholder's liability for the subsidiary's debts is limited to the value of the shares, [3] and the shareholders cannot be required to perform the company's obligations.
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Business, economic activity done by a businessperson; Big business, larger corporation commonly called "enterprise" in business jargon (excluding small and medium-sized businesses) Company, a legal entity practicing a business activity; Enterprises in the Soviet Union, the analog of "company" in the former socialist state