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| cor·po·ra·tion [ kàwrpə ráysh'n ] (plural cor·po·ra·tions) |
noun |
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| Definition: |
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1. group regarded as individual by law: a company recognized by law as a single body with its own powers and liabilities, separate from those of the individual members. Corporations perform many of the functions of private business, governments, educational bodies, and the professions.
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2. local governing authority: the governing authority of an incorporated municipality such as a city or town
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3. group acting as single entity: a group of people acting as a single entity
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| [15th century. < late Latin corporation-< Latin corporatus (see corporate)] |
