Essay on Corporation
Students are often asked to write an essay on Corporation in their schools and colleges. And if you’re also looking for the same, we have created 100-word, 250-word, and 500-word essays on the topic.
Let’s take a look…
100 Words Essay on Corporation
What is a Corporation?
A corporation is a big company or group of companies acting as a single organization. It is like a person in the eyes of the law. This means it can own property, make deals, and be taken to court.
Ownership and Shares
People own parts of a corporation through shares. Shareholders are part owners. They can earn money if the corporation does well but can lose money if it does not.
Running a Corporation
Corporations are run by managers. A board of directors makes big decisions. They work to make the corporation successful and profitable.
Benefits and Responsibilities
Corporations can raise money easily. They must also follow many rules and pay taxes. They have a duty to handle their activities responsibly.
250 Words Essay on Corporation
What is a Corporation?
A corporation is like a big company. It is a group that is allowed to act as a single person, even though it is made up of many people. This means the corporation can do things like buy things, sell products, and hire people.
How Corporations Work
Corporations are run by people called directors. These directors make big decisions. Then, there are managers who handle day-to-day tasks. People who own a part of the corporation are called shareholders. They get a bit of the money the corporation makes.
Types of Corporations
There are different kinds of corporations. Some are for making money, like toy or phone companies. Others are called non-profits, and they work to help people or the environment, not to make money.
Advantages of Corporations
Corporations can do a lot because they are big. They can make lots of products and sell them to many people. They also have money to invent new things. If a corporation owes money or gets in trouble, the people who own it do not have to pay from their own pockets.
Challenges for Corporations
Running a corporation can be hard. They must follow many rules and pay taxes. Also, if people do not like what they sell or how they act, they can lose customers.
In short, corporations are powerful groups that can do many things. They bring us products we use every day, but they also have to be careful to follow rules and keep people happy.
500 Words Essay on Corporation
What is a Corporation?
A corporation is a type of company that is seen as its own legal person. This means that it can do many things that a person can do, like own property, make contracts, and even be taken to court. It’s a way for a business to exist separately from the people who started it or own it. This is useful because if the business has to pay money for any reason, the owners usually don’t have to use their own money to pay.
How is a Corporation Formed?
To start a corporation, a group of people come together with an idea for a business. They write down the rules for how the corporation will work, which is called the articles of incorporation, and then they register these with the government. Once that’s done, the corporation is like a newborn baby in the business world. It gets a name and starts its life.
Owners and Shares
The people who own a corporation are called shareholders because they own shares. Shares are like small pieces of the corporation. If you have more shares, you own more of the company. Shareholders can make money if the corporation does well and loses money if it doesn’t. They also get to vote on important decisions, like who will manage the corporation.
Running a Corporation
Even though a corporation is a legal person, it can’t make decisions by itself. It needs people to do that. So, there is a group of people called the board of directors. They are chosen by the shareholders to make big decisions and to watch over the corporation’s activities. Then, there are managers and employees who handle the day-to-day work.
Advantages of a Corporation
One big plus of a corporation is that it can keep going even if the original owners leave or sell their shares. It doesn’t depend on any one person to survive. Also, because it’s its own legal person, if the corporation owes money, the shareholders usually don’t have to pay from their own pockets. This protection is called limited liability.
Disadvantages of a Corporation
On the other side, starting and running a corporation can be more complicated and expensive than other types of businesses. There are a lot of rules to follow, and the corporation has to report a lot of information to the government. Taxes can also be more complex for a corporation.
Corporations in Society
Corporations play a big role in our lives. They can be very big, like the companies that make our phones or our food. They create jobs, make goods, and provide services that we use every day. But they also have a lot of power and can affect our environment and communities. So, it’s important for people to pay attention to what corporations do and to make sure they work in a way that’s good for everyone.
In conclusion, a corporation is a special way to set up a business. It has its own legal identity, is owned by shareholders, and is run by directors and managers. While it offers benefits like ongoing existence and limited liability, it also comes with challenges like complex rules and potential impacts on society. Understanding corporations helps us better grasp the business world around us.
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