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Describe what it means for a corporation to have legal status as an entity.
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Describe what it means for a corporation to have legal status as an entity.

User Bboe
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A corporation is a legal entity created through the laws of its state of incorporation. The law treats a corporation as a legal "person" that has standing to sue and be sued, distinct from its stockholders. The legal independence of a corporation prevents shareholders from being personally liable for corporate debts.

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User Vlad Pavlovski
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A corporation is a legal entity created through the laws of its state of incorporation. The law treats a corporation as a legal "person" that has standing to sue and be sued, distinct from its stockholders. The legal independence of a corporation prevents shareholders from being personally liable for corporate debts.
User Walter Underwood
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