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Corporation (noun)
\koˈr-pə-rā-shən\
An association of individuals, created under authority of law, having existence, powers, and liabilities distinct from those of its members. In a business sense, a corporation is usually owned by shareholders, through the sale or distribution of stock, who profit from such ownership, vote at designated times for its governance, and designate executives who run its affairs. Most corporations engage in one or more industries to produce goods or offer services for profit, and may in turn own other corporations, companies, or property as holdings.

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