Sub-corporation
noun
1.
an association of individuals, created by law or under authority of law, having a continuous existence independent of the existences of its members, and powers and liabilities distinct from those of its members.
See also municipal corporation, public corporation.
2.
(initial capital letter) the group of principal officials of a borough or other municipal division in England.
3.
any group of persons united or regarded as united in one body.
4.
Informal. a paunch; potbelly.
noun
1.
a group of people authorized by law to act as a legal personality and having its own powers, duties, and liabilities
2.
Also called municipal corporation. the municipal authorities of a city or town
3.
a group of people acting as one body
4.
See public corporation
5.
(informal) a large paunch or belly
corporation definition
A business organization owned by a group of stockholders, each of whom enjoys limited liability (that is, each can be held responsible for losses only up to the limit of his or her investment). A corporation has the ability to raise capital by selling stock to the public.
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