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Company vs Corporation: Difference

Difference between a Corporation and a Company/Corporate

A Company is one of the forms of business organization, which is formed and registered under the Companies Act 2013 or under any other previous company laws. A Company is considered as an ‘artificial person’ being having no lively life, established by a group of persons the number of which may be a minimum of two to a maximum of unlimited, depending upon the types of the company.

A Company is established and continued to be operated as a separate legal entity by natural persons, though both natural and artificial person may contribute resources (viz. capital, loans etc.) for its operation.The company has perpetual succession.

The persons, who contribute to the capital to the Company, entrust the management of the company in the hands of Board of directors of the Company.

A Corporation is no different form of business organisation than a company, it is treated as one and same with a Company in India. Though prefix/suffix of the word 'Corporation' are generally used by the Govt. companies i.e. PSUs, whereas the non-govt. cos. use the 'Private Limited' if a Private Company and 'Limited' if Public Company.

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