"Corp." is a common abbreviation for "corporation," which refers to 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 or S corporations, depending on tax treatment and ownership structure. Corporations are governed by a board of directors and must adhere to specific regulations and laws. They can raise capital by issuing stocks to investors, allowing them to share in the profits and losses of the business. This structure provides limited liability protection to shareholders, meaning their personal assets are generally safe from corporate debts.