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Business Organizations: What is a corporation?

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What is a corporation? Identify and discuss the key advantages and disadvantages of corporations.

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This solution identifies the advantages and disadvantages that define a corporation in approximately 175 words.

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What is a corporation? Identify and discuss the key advantages and disadvantages of corporations.
Corporation is a legal person having a separate identity. It is an artificial person and it is created under the law. Key advantages are that it has:
1) Separate identity
2) Shareholders have limited liability
3) Permanence
It doesn't cease to ...

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