corporation
- A business structure sanctioned by state law, functioning as a separate legal entity from its owners, protecting them from personal liability for the business's debts or obligations, excluding certain exceptions like unpaid taxes
- The small business recently transformed into a corporation to provide legal protection for the owners.
- The corporation is a multi-national entity, with business branches located around the world.
- Becoming a corporation could shield you from personal liability in case of business debts.
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