Corporation Structure

A corporation is a legal entity created to conduct business. It typically consists of three main parts: shareholders, who own the company; the board of directors, who make major decisions and oversee management; and the executives, who run day-to-day operations. Shareholders elect the board, which represents their interests. The corporation is distinct from its owners, meaning it can own property, enter contracts, and be sued in its own name. This structure helps limit individual liability, protecting personal assets from business debts and legal issues.