Main Entry: cor·po·ra·tion

Pronunciation: \ˌkȯr-pə-ˈrā-shən\

Function: noun

Date: 15th century

1 a : a group of merchants or traders united in a trade guild 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 1