Corporations

A corporation is a legal entity that is separate from its owners, often called shareholders. It can own property, enter contracts, and sue or be sued. Corporations are formed to limit the personal liability of their owners for business debts and obligations, meaning shareholders typically risk only the money they invested. They can raise capital by selling shares and can continue to exist beyond the lifespan of their founders. Corporations are often subject to specific regulations and taxation, and they play a significant role in the economy by driving innovation and creating jobs.