IAS (Admin.) Mains Public Administration Organizations-Corporations Study Material (Page 1 of 1)

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Corporations

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  • A corporation is an organisation that is authorised by the state to act as a legal entity and recognised as such in law.
  • Corporations come in many different types but are usually divided by the law of the jurisdiction where they are chartered based on two aspects:
    • Whether they can issue stocks;
    • Whether they are formed to make a profit.
  • Depending on the number of owners, a corporation can be classified as aggregate or sole.

History

Age of Mercantilism
  • Corporations became popularized in the age of mercantilism, which was led by the Dutch and English East India Companies.
  • These corporations acted under a Charter sanctioned by their respective governments.
  • Even though they were trading organisations, they …

… (595 more words, 11 figures) …

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