Corporation (US law)/Definition

One of three principal legal forms of organization of business. (The other two are sole proprietorships and partnership). In U.S. legal doctrine, a corporation is technically an individual, not an organization. At minimum, the organization of a corporation is its board, but paid employees or "agents" may also be organized into a company (in the archaic sense or an organized group). The organization of business corporations also includes another category of owners or stock- or shareholders who receive portions of the profits of the corporation.