A corporation is a large business organization that is legally recognized as a separate entity from its owners. This means that it can own property, enter contracts, and be sued in its own name. Corporations are often created to limit the personal liability of their owners, known as shareholders, who invest money in the company. This structure allows for easier fundraising and growth, as corporations can sell stocks to raise capital.
Corporations can be found in many industries, from technology to retail. They are typically managed by a team of executives, including a CEO (Chief Executive Officer), who makes important decisions. Because corporations can operate across different regions and even countries, they play a significant role in the global economy.