Final answer:
A corporation is a type of company that receives payment and/or a portion of profits. It can be either a public or private company.
Step-by-step explanation:
A type of company that receives payment and/or a portion of profits is a corporation. A corporation is a large business that has a formal legal structure and can be either a public or private company. When a corporation goes public, it sells shares of the company to raise revenues. Shareholders who own these shares are entitled to receive a portion of the company's profits, either through dividends or an increase in the value of their shares.