Corp is a term often used to refer to a corporation, which is a legal entity that is separate from its owners. Corporations can own property, enter contracts, and be liable for debts. They are typically formed to conduct business and can be structured in various ways, such as C corporations, S corporations, or limited liability companies (LLCs). Corporations are governed by a board of directors and are required to follow specific regulations and laws. They can raise capital by selling shares to investors, which allows them to grow and expand their operations. This structure provides limited liability protection to shareholders, meaning they are not personally responsible for the corporation's debts.