Main features of a corporation

The definition of the concept of “corporation” is ambiguous and unclear, which leads to the creation of double standards and legal conflicts. For example, some organizations that actually operate as corporations are not legally recognized as such, and vice versa. This approach creates difficulties for law enforcement officers who face problems in interpreting and applying laws. To resolve this issue, it is necessary to clearly define and enshrine at the legislative level the characteristics of a corporation. The analysis of the legislative framework and the opinions of scientists carried out in the work confirmed the differences in approaches, and also made it possible to identify the existing legal uncertainty and difficulties in law enforcement. We present the characteristic features of a corporation in the form of a set based on the criteria that unite them. The presented set in the form of four groups (legal, economic, organizational and social) allows you to get a complete picture of the diversity of aspects characterizing the unique features of a corporation. Understanding and recognizing these features are key to the correct identification of corporations among other forms of business entities and the creation of a legal, economic and social environment conducive to their successful organization and functioning. This study is of great importance for legislators, regulators, investors and other stakeholders for further development of theoretical and practical aspects of corporate law and governance.