corporation

American  

[kawr-puh-rey-shuhn] / ˌkɔr pəˈreɪ ʃən /

noun

1. an association of individuals, created by law or under authority of law, having a continuous existence independent of the existences of its members, and powers and liabilities distinct from those of its members.

2. Corporation, the group of principal officials of a borough or other municipal division in England.

3. any group of persons united or regarded as united in one body.

4. Informal. a paunch; potbelly.

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corporation British  

/ ˌkɔːpəˈreɪʃən /

noun

1. a group of people authorized by law to act as a legal personality and having its own powers, duties, and liabilities

2. Also called: municipal corporation.  the municipal authorities of a city or town

3. a group of people acting as one body

4. See public corporation

5. informal a large paunch or belly

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corporation Cultural  

1. A business organization owned by a group of stockholders, each of whom enjoys limited liability (that is, each can be held responsible for losses only up to the limit of his or her investment). A corporation has the ability to raise capital by selling stock to the public.

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Grammar

See collective noun.

Other Word Forms

• corporational
  adjective
• multicorporation
  noun
• noncorporation
  noun
• subcorporation
  noun
• supercorporation
  noun

Etymology

Origin of corporation

First recorded in 1400–50; late Middle English, from Late Latin corporātiōn- (stem of corporātiō ) “guild,” Latin: “physical makeup, build”; see corporate, -ion

Explanation

Most of us think of corporations as companies — Amazon is one, Kellogg another, Disney a third. In reality, a corporation has a very particular legal meaning: it's a company that registers with a state government such that it has the same rights and responsibilities as a person. Know the word corpse? It means a dead body, and comes from the Latin corpus, "body." One way to remember corporation is that it turns a company into a body — a body that is considered a person in many respects in the eyes of the law. Corporations must pay taxes and follow laws. Because it is a separate entity, when a corporation fails, its employees and managers are not responsible for its debts.

Example Sentences

Neighbors First was formed last fall as a nonprofit public benefit corporation, with San Rafael-based attorney Steven S. Lucas serving as its chief financial officer, according to paperwork filed with the secretary of state.

From Los Angeles Times • May 9, 2026

"This comes on top of capping corporation tax, cutting alcohol duty on draught pints and six cuts in interest rates, benefiting businesses in every part of Britain," the spokesperson said.

From BBC • May 4, 2026

Musk and his longtime fixer, Jared Birchall—who typically avoids the spotlight—were both questioned about incorporation papers that were filed in 2017 to create a for-profit benefit corporation for OpenAI.

From The Wall Street Journal • May 4, 2026

In 2025, OpenAI turned its for-profit into a public benefit corporation controlled by its non-profit arm.

From MarketWatch • Apr. 27, 2026

As its birthright, the corporation received Cottrell’s patent and his directive that it be exploited for profit to fund grants for scientific research.

From "Big Science" by Michael Hiltzik

Related Words

• business
• company
• enterprise