corporation

noun

Save Word

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 Phrases Containing corporation Learn More About corporation

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 However, the federal government quietly maintains an independent corporation called UNICOR which is often retained by the military to make uniforms while paying their workers (prison inmates) somewhere between $.23 and $1.15 an hour. — Rick Helfenbein, Forbes, 9 Aug. 2022 But if the City Council approves Wu’s plan, other changes would be effective retroactively to Aug. 1, including a significant boost to the pay ranges for police commissioner, fire commissioner, corporation counsel, and chief information officer. — Danny Mcdonald, BostonGlobe.com, 8 Aug. 2022 Consists of the installation of a new sanitary sewer main and laterals on the west side of Spencer between Robert Ave and the Fairview Park corporation limit on Spencer Road as well as new curbs and the resurfacing of all of Spencer Road. — Linda Gandee, cleveland, 8 Aug. 2022 Budrick went on to become the restaurant’s maitre d’ and a part owner in 1975 when the restaurant formed a corporation. — Mario Cortez, San Francisco Chronicle, 5 Aug. 2022 To bolster the economy, Ms. Truss is promising to cut payroll taxes immediately and scrap a planned rise in corporation tax, engineered under the Johnson government by Mr. Sunak. — Max Colchester, WSJ, 4 Aug. 2022 The Town Council voted to settle that action, without comment, on July 14 following a brief explanation by West Hartford corporation counsel Dallas Dodge. — Ted Glanzer, Hartford Courant, 20 July 2022 The comptroller, Brad Lander, must still sign off on any agreement that the Law Department, led by Sylvia Hinds-Radix, the corporation counsel, reaches with Mr. Aziz in the aftermath of the lawsuit. — New York Times, 14 July 2022 Todd Bettison, the Police Department's first assistant chief, will fill the role previously held by Conrad Mallett, who stepped down in April to serve as Detroit's corporation counsel. — Dana Afana, Detroit Free Press, 11 May 2022 See More

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

Learn More About corporation

Dictionary Entries Near corporation

corporate-wide

corporation

corporational

Statistics for corporation

Last Updated

13 Aug 2022

Cite this Entry

“Corporation.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/corporation. Accessed 16 Aug. 2022.

Style: MLA

MLA

Chicago

APA

Merriam-Webster Check Mark Icon

More Definitions for corporation

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