Concept in Definition ABC

Legal person with rights and obligations that is created to fulfill a specific purpose

A Corporation, also called a Corporate Partnership, It is a legal person, obviously different from the natural person, that is, it is a subject that has both rights and obligations but does not exists physically and is then created by one or more natural persons to fulfill a specific role, which often has protected rights by law, very similar to those of a natural person. A city council, a university, a church, an NGO, a company, a union, a union and any other type of collective person can be a corporation.

Wide use as a synonym for business

Currently and as a consequence of the contagion and indiscriminate use of some English words in others languages, such as corporation, many people use the word corporation to refer to a commercial entity established according to the legal framework.

So, a corporation, or according to other legal systems, a company, is a legal and artificial person, with or without shareholders, which can be made up of individuals, coalitions of companies, other corporations or other legal persons.

Meanwhile, whatever the same type, a corporation will always comprise a group of individuals with different legal statuses and with special privileges not granted to sole proprietorships or other groups of individuals.

And generally, the law of the state in which it was created, developed and operates will be the one that will govern its steps.

Independent association of the state administration that assumes activities and purposes of public utility

Likewise, the term corporation is used to refer to that association or official body, almost always public but independent of the administration state, which observes and performs public utility purposes. For example, Commerce They turn out to be an example of corporations in this sense, because they will be those that will be especially concerned with assisting their members in their work.

Chambers of Commerce, a corporation that represents a sector in the defense and promotion of its interests

This type of corporation is very common in the countries and is usually made up of businessmen and owners of small, medium and large companies or businesses, whose primary purpose turns out to be to increase the productivity the sector they represent and also the quality and the competitiveness of the activities they undertake.
Normally, it is the members themselves who elect their highest authorities, who are in effect the ones who will represent them in the negotiations that are faced, for example, with the government to get some profit.

Association that groups together people who perform the same profession

Also the word corporation is used to account for the association that groups together people who carry out the same profession, for example a corporation of doctors, lawyers, journalists, among others.

Corporatism in the professions

With regard to this sense of the term, which is certainly widely used, an associated concept has been generated, that of corporatism, and which has a connotation negative since it is used to designate that practice carried out by professionals of a certain task when precisely their activity professional it is affected, harmed by some action that is perpetrated against one of its members.
Then, the group of professionals raise their voices to defend not only their partner but also their professional task, even many times when the attack on that professional in question has its grip because he has done something wrong.

In these cases precisely, when the action is to defend the guild beyond everything, and despite a serious error having been made in the performance The task is that they speak of corporatism and of course a negative connotation is applied to it.

However, we must also emphasize that professional corporations carry out an important activity within their scope of action since they act as support of their members in every sense and of course, they turn out to be a great help when it comes to promoting and defending interests.

Topics in Corporation