corporation

noun

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cor·po·ra·tion | \ ˌkȯr-pə-ˈrā-shən

Definition of corporation

1a : 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 Example Sentences Learn More about corporation

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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 In remembrances posted online and shared on social media, he was praised for his work with Southeast Alaska’s regional Native corporation, his efforts to preserve Tlingit culture and his state work on subsistence issues. — James Brooks, Anchorage Daily News, 29 May 2021 The Pennsylvania Turnpike had no intention ever to stop collecting tolls, and in 1966 the corporation’s director of operations rejected proposals for a direct connection. — Nic Rowan, National Review, 29 May 2021 Last week, ProPublica revealed that Kabbage processed 378 loans collectively worth $7 million to single-person businesses that don’t appear in corporation records of their respective states. — Derek Willis And Lydia Depillis, ProPublica, 28 May 2021 Given the high level of interest in a different relief program last year, the corporation built its paperwork and review process with speed in mind, officials said. — From Usa Today Network And Wire Reports, USA TODAY, 27 May 2021 In a series of texts to The Republic, Costa said Capri manipulated her into putting her name on corporation and business records for restaurants from Hawaii to Florida. — Robert Anglen, The Arizona Republic, 26 May 2021 Some manufacturers address the perennially dysfunctional suppliers by de-sourcing the corporation on either the current project or future projects. — Steve Tengler, Forbes, 26 May 2021 The lottery corporation would contribute an additional $1 million for problem gambling, while the tribal operators of the Mohegan Sun and Foxwoods will contribute $500,000 each. — Christopher Keating, courant.com, 25 May 2021 Culture is built brick by brick, the foundation of it by the people, not by the organization, not by the building, not by the corporation. — Steve Megargee, ajc, 25 May 2021

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'corporation.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

History and Etymology for corporation

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

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Last Updated

2 Jun 2021

Cite this Entry

“Corporation.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/corporation. Accessed 12 Jun. 2021.

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More Definitions for corporation

corporation

noun

English Language Learners Definition of corporation

: a large business or organization that under the law has the rights and duties of an individual and follows a specific purpose

See the full definition for corporation in the English Language Learners Dictionary

corporation

noun

cor·po·ra·tion | \ ˌkȯr-pə-ˈrā-shən

Kids Definition of corporation

: a business or organization authorized by law to carry on an activity with the rights and duties of a single person

corporation

noun

cor·po·ra·tion | \ ˌkȯr-pə-ˈrā-shən

Legal Definition of corporation

: 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

1 : 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

2 : 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

1 : 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

2 : 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