corporation: Meaning and Definition of

cor•po•ra•tion

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.
2. (cap.) 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. a paunch; potbelly.