MANAGEMENT

Detailed explanation-1: -Incorporation is the broad term to describe a business registered with a state to become a separate legal entity. That business entity often is owned by shareholders (even if it is a single-member owned corporation) that may also be overseen by a board of directors.

Detailed explanation-2: -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-3: -A corporation, sometimes called a C corp, is a legal entity that’s separate from its owners. Corporations can make a profit, be taxed, and can be held legally liable.

Detailed explanation-4: -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-5: -A joint stock company has an independent status i.e. it has a separate legal entity from its members. It has an independent existence in the eyes of law and can also purchase and sell property in its own name.