What is Corporation?
{{Other uses}} A '''corporation''' is a group of [[natural person|person]]s that sit together to make and run a [[business]]. This business is considered an entirely different human and unrelated to the group that manages it.<ref>{{Cite journal|last=Hirst|first=Scott|date=2018-07-01|title=The Case for Investor Ordering|url=https://scholarship.law.bu.edu/faculty_scholarship/343|journal=The Harvard Law School Program on Corporate Governance Discussion Paper|volume=No. 2017-13}}</ref> Because the government recognizes it as a company and not a person, the corporation must pay its taxes and conform to state and federal law. This difference between persons and corporations gives it special powers.<ref>{{Cite web|title=Types Of Corporations {{!}} Incorporate A Business|url=https://www.corpnet.com/types-of-corporations/#gfp|url-status=dead|archive-url=https://web.archive.org/web/20171015152228/https://www.corpnet.com/types-of-corporations/#gfp|archive-date=2017-10-15|access-date=2017-06-10|website=www.corpnet.com|language=en}}</ref> A corporation's special powers are determined by the law of the country in which the corporation is set up. [[Investor]]s(people who own a small part of the company) and [[entrepreneur]]s(The people who founded the company and its ideas) often form [[joint stock company|joint stock companies]]. Therefore, the term ''corporation'' often means such ''business corporations''. Corporations may also be formed for [[local government]] ([[municipal corporation]]), political, religious, and charitable purposes ([[Non-profit organization|not-for-profit corporation]]), or government programs ([[government-owned corporation]]). [[Condominiums]] are a common kind of non-profit corporation.<ref>{{Cite journal|last=Sim|first=Michael|date=2018|title=Limited Liability and the Known Unknown|url=https://www.ssrn.com/abstract=3121519|journal=Duke Law Journal|volume=68|pages=275–332|doi=10.2139/ssrn.3121519|issn=1556-5068|via=SSRN|s2cid=44186028}}</ref><ref>{{Cite journal|last1=Hansmann|first1=Henry|last2=