The word 'corporation' comes from the Latin 'corpus'. What does 'corpus' mean?
AnswerBody
A corporation is a 'body' of people treated in law as a single entity.
Business · Facts & stats
Corp facts & stats
7 fact-checked facts about corporations, each with the reason behind it. 5 more are in today's round and join this page after it closes.
The basics
What does 'LLC' stand for?
AnswerLimited liability company
An LLC is a business structure that shields owners' personal assets from the company's debts.
Going deeper
What does 'limited liability' mean for a company's owners?
AnswerThey can lose no more than what they put into the company
With limited liability, shareholders aren't personally responsible for company debts beyond their stake.
Who elects a corporation's board of directors?
AnswerThe shareholders
Shareholders vote to elect the board, which oversees management and appoints the CEO.
In the UK, what does 'plc' after a company name stand for?
AnswerPublic limited company
A plc is a UK company whose shares may be offered for sale to the general public.
Expert level
What does the French business abbreviation 'S.A.' stand for?
AnswerSociété anonyme
'Société anonyme' literally means 'anonymous society' and is a common legal form for large French companies.
Which English trading company received its royal charter from Queen Elizabeth I in 1600?
AnswerThe East India Company
The East India Company was chartered on 31 December 1600 to trade in the East Indies.
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