Corporation

The most common form of business organisation, and one that is given many legal rights as an entity separate from its owners. This form of business is characterised by the issuance of shares of easily transferable stock, the limited liability of its owners, and existence as a going concern. The basic existence of a corporation usually derives from two documents: the Articles of Association and the Certificate of Incorporation.

There are different tax implications for corporations, although these can be both advantageous and disadvantageous.