Final answer:
A foreign corporation is a corporation that does C) business in states other than where it was initially incorporated. This entity has to adhere to the laws and regulations of each state it operates in.
Step-by-step explanation:
A foreign corporation is defined as a corporation doing business in states other than the one in which it was incorporated. This is option C) a corporation in states other than the one in which it was incorporated.
A corporation that is formed under the laws of another country operating in the United States can also be considered a foreign corporation, but the question seems to specifically address the context within the United States.
When a corporation operates in multiple states, it must comply with the regulations and laws of each state in addition to the federal regulations. A corporation is a legal entity that is separate from its owners and provides limited liability protection.
Sometimes, such entities may evolve into multinational corporations (MNCs) when they extend their operations beyond national boundaries and engage in business activities globally.