MANAGEMENT

Detailed explanation-1: -A corporation is a legal entity that is separate and distinct from its owners. Under the law, corporations possess many of the same rights and responsibilities as individuals. They can enter contracts, loan and borrow money, sue and be sued, hire employees, own assets, and pay taxes.

Detailed explanation-2: -A corporation is an organization-usually a group of people or a company-authorized by the state to act as a single entity (a legal entity recognized by private and public law “born out of statute"; a legal person in legal context) and recognized as such in law for certain purposes.

Detailed explanation-3: -It is not a human being, but it acts through human beings. Companies are called legal persons because they can enter into a separate contract, or they can possess properties in their own name, sue and get sued by the other parties, etc. So many different features a company possesses in the whole process.

Detailed explanation-4: -Definition of Stockholder A stockholder (also known as a shareholder) is the owner of one or more shares of a corporation’s capital stock. A stockholder is considered to be separate from the corporation and therefore has limited liability for the corporation’s obligations.