corporation
/,kɔ:pə'reiʃn/
Definition
- Noun:
- A legal entity authorized to act as a single body and recognized in law as having rights and duties separate from its members: A corporation is a company or group of people authorized to operate as a single unit (legally a "person") and recognized as such in law. It is formed under the laws of a state or country.
- (Informal, humorous) A large protruding belly; a paunch: This is a slang, often jocular, use of the word.
Usage and Examples
As a legal/business entity:
- She works for a large multinational corporation.
- The corporation filed its annual report with the government.
- Forming a corporation can provide liability protection for the owners.
As slang for a belly:
- After all those big meals, he's starting to develop quite a corporation.
- (Humorous) He patted his corporation contentedly.
Advanced Usage and Notes
- Legal Distinction: A key feature of a corporation is "limited liability," meaning the owners' (shareholders') personal assets are typically protected from the company's debts and liabilities.
- "Municipal Corporation": A specific term for a city, town, or other local government body that is incorporated. Example:
- The slang meaning is considered informal and is often used in a light-hearted or teasing manner.
Variants and Related Words
- Incorporate (verb): To form a legal corporation.
- Corporate (adjective): Relating to a corporation.
- Corporatism (noun): The control of a state or organization by large interest groups.
Synonyms
- Company (especially a large one)
- Firm
- Business entity
- Inc. (abbreviation for Incorporated, often part of a corporate name)
- Paunch or potbelly (for the slang meaning)
Idioms and Common Phrases
- "Corporation sole": A legal entity consisting of a single person (like a monarch or a bishop) recognized as having a perpetual existence separate from the individual.
- "To have a corporation": An informal, humorous phrase meaning to have a large stomach.
Noun
-
slang for a paunch
-
a business firm whose articles of incorporation have been approved in some state
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