{"id":3877,"date":"2023-03-19T19:02:36","date_gmt":"2023-03-19T19:02:36","guid":{"rendered":"https:\/\/fisdomdevel.wpengine.com\/glossary\/corporation-or-company\/"},"modified":"2023-03-19T19:02:36","modified_gmt":"2023-03-19T19:02:36","slug":"corporation-or-company","status":"publish","type":"post","link":"https:\/\/www.fisdom.com\/glossary\/corporation-or-company\/","title":{"rendered":"Corporation Or Company"},"content":{"rendered":"<p>\nA company is a business entity or firm which is engaged in production or exchange of goods or services with customers. The objective or goal of a company is to earn profits. Companies are categorised as per their structure, purpose, tax status along with the area of business.<\/p>\n<h2>Types of companies<\/h2>\n<p>Companies are classified as:<br \/>\nSole Proprietorship &#8211; the owner and company are the same legally but it allows the owner to show business related expenses on the tax returns.<br \/>\nPartnership &#8211; A partnership consists of two or more people with the same business interest. A partnership firm can show business expenses and profit on their personal tax returns.<br \/>\nLimited Liability Company &#8211; it comes with limited liability protection with the tax benefits similar to sole proprietorship or partnership firm.<\/p>\n<h2>Corporation<\/h2>\n<p>A corporation is a totally separate legal entity from its owners, established with a profit motive and to carry out a business.<br \/>\nNot every company is a corporation, but all corporations are companies.<\/p>\n<h2>Features of Corporation<\/h2>\n<p>Features of Corporation are:<br \/>\nA corporation sells its stocks or part ownership and raises capital through its investors or \u2018shareholders\u2019.<br \/>\nThese shareholders are owners of the company as per their share or in proportion to the number of stocks they own.<br \/>\nMost corporations have an elected board of directors to act in the interest of shareholders.<br \/>\nThe board of directors selects a management team for running the business operations.<br \/>\nA corporation files tax returns separate from its owners, who are not personally liable for the company\u2019s liabilities.<\/p>\n<h2><\/h2>\n<h2><\/h2>\n","protected":false},"excerpt":{"rendered":"<p>A company is a business entity or firm which is engaged in production or exchange of goods or services with customers. The objective or goal of a company is to earn profits. Companies are categorised as per their structure, purpose, tax status along with the area of business. Types of companies Companies are classified as: [&hellip;]<\/p>\n","protected":false},"author":67,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[11],"tags":[],"class_list":["post-3877","post","type-post","status-publish","format-standard","hentry","category-stocks"],"_links":{"self":[{"href":"https:\/\/www.fisdom.com\/glossary\/wp-json\/wp\/v2\/posts\/3877","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fisdom.com\/glossary\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fisdom.com\/glossary\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fisdom.com\/glossary\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fisdom.com\/glossary\/wp-json\/wp\/v2\/comments?post=3877"}],"version-history":[{"count":0,"href":"https:\/\/www.fisdom.com\/glossary\/wp-json\/wp\/v2\/posts\/3877\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.fisdom.com\/glossary\/wp-json\/wp\/v2\/media?parent=3877"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fisdom.com\/glossary\/wp-json\/wp\/v2\/categories?post=3877"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fisdom.com\/glossary\/wp-json\/wp\/v2\/tags?post=3877"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}