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What is an example of a corporation?

Apple Inc., Walmart Inc., and Microsoft Corporation are all examples of corporations.

What is corporation and how does it work?

What Is a Corporation? A corporation is a legal entity that is separate and distinct from its owners. Under the law, corporations possess many of the same rights and responsibilities as individuals. They can enter contracts, loan and borrow money, sue and be sued, hire employees, own assets, and pay taxes.

What are the three classifications of a corporation?

There are four general types of corporations in the United States: a sole proprietorship, a Limited Liability Company (LLC), an S-Corporation (S-Corp), and a C-Corporation (C-Corp).

What is corporation in a business?

A corporation, sometimes called a C corp, is a legal entity thats separate from its owners. Corporations can make a profit, be taxed, and can be held legally liable. Corporations offer the strongest protection to its owners from personal liability, but the cost to form a corporation is higher than other structures.

What qualifies you as a corporation?

A corporation is created when it is incorporated by a group of shareholders who share ownership of the corporation, represented by their holding of stock shares, and pursue a common goal. The vast majority of corporations have a goal of returning a profit for their shareholders.

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