What is the difference between corporation and company?

[Good-Person]

Corporations and companies are the kind of companies used by many people. They are also used interchangeably by many people. However, do you think that there is a difference between the two? If yes, then what are those differences?

 

[Ja sa bong]

The difference between a company and a corporation is in what makes them up. A company can be a single entity which deals on a specific or more products. A corporation is a group of companies which came together under the banner to represent as an entity.

 

[Kane]

There is a slight difference between a corporation and a company. All corporations are companies and not all companies are corporations. Corporation is a big company that has its own legal status, it is not controlled by the share holders. However, company is controlled by the shareholders

 

[Good-Person]

The difference between a company and a corporation is in what makes them up. A company can be a single entity which deals on a specific or more products. A corporation is a group of companies which came together under the banner to represent as an entity.

I think that a corporation could be a single company as well. It does not necessarily need to be a group of companies. There are many singular corporations as well. However, they conduct businesses at a high level and they may also be enlisted in the stock exchange.

 

[Ja sa bong]

There is a slight difference between a corporation and a company. All corporations are companies and not all companies are corporations. Corporation is a big company that has its own legal status, it is not controlled by the share holders. However, company is controlled by the shareholders

This is correct, it's not all companies are corporations. They can be a single entity or group of individuals that are separate from it's owners. The business operations of a corporation is bigger than what can be done by a single company.

 

[Frank]

There is a slight difference between a corporation and a company. All corporations are companies and not all companies are corporations. Corporation is a big company that has its own legal status, it is not controlled by the share holders. However, company is controlled by the shareholders

The truth about corporation again is that a company can be formed without any strict formalities unlike when you have to go through a lot of procedures before forming a corporation. Most of the times, the government will want to have a say on what happens with corporations too.

 

[Good-Person]

This is correct, it's not all companies are corporations. They can be a single entity or group of individuals that are separate from it's owners. The business operations of a corporation is bigger than what can be done by a single company.

I think that corporation is a term used to identify a business organisation that has many stakeholders as well. Moreover, they may have many different kinds of stakeholders at a larger scale. A company could be a private organisation. It may not be even enlisted on the stock exchange.

 

[Ja sa bong]

The truth about corporation again is that a company can be formed without any strict formalities unlike when you have to go through a lot of procedures before forming a corporation. Most of the times, the government will want to have a say on what happens with corporations too.

I think registering a company is very different from registering a business. The processes in forming a company is almost the same thing with what you face in forming a corporation. There's a private and public part of each of them which everything is owned by shareholders.