University of Maryland Extension

A Closer Look At The Corporation Business Structure

Ashley Newhall
Photo by Edwin Remsberg

This post should not be relied upon as legal advice

                In continuing our overview of business organization structures, I will be illustrating the corporation structure with you today.  A corporation is a legal entity separate and distinct from its owners.  A corporation is owned by its shareholders who are individuals, other business organizations, or both.  Even though corporations are distinct and separate, they enjoy most of the rights and responsibilities that individuals possess.  For example, corporations have the right to enter into contracts, loan and borrow money, sue and be sued, hire employees, own assets, and pay taxes.

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