A corporation is a legal form of business that is separate from its owners.

In other words, it’s a business

that is a separate legal entity from its shareholders.
The basic corporate structure consists of the shareholders, board of directors, and officers. The
shareholders are the investors and people who actually own the company. They purchased the stock and
legally own the assets of the business. Since there are often thousands or millions of shareholders, they
can’t run the business on a day-to-day basis.
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PARAPHRASED
A corporation is a distinct legal type of business that is separate from its owners.In other words, it is a
company that is distinct from its shareholders as a legal entity. The fundamental structure of the
corporation comprises of shareholders, board of directors and officers. The shareholders are the
investors and individuals who own the firm. They bought the inventory and ownedtheproperty of the
business. They bought the inventory and owned the company's assets legally. Since thousands or
millions of shareholders often exist, they are unable to operate the company on a daily basis

A corporation is a business entity that is owned by its shareholder(s), who elect a board of directors to
oversee the organization’s activities. The corporation is liable for the actions and finances of the business
– the shareholders are not. Corporations can be for-profit, as businesses are, or not-for-profit, as
charitable organizations typically are.
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PARAPHRASED
A corporation is a corporation owned by itsshareholder(s) who elects a board of directors to supervise
the operations of the organization. The company is responsible for the company's behavior and
finances–the shareholders are not. Corporations can be profit-making, as companies are, or not, as
charities are typically.