A corporation is a legal “entity” that can be created under the law using articles of incorporation that have been approved by the state in which they filed the paperwork.

The corporation is viewed as its own “person” under the eyes of the law and can operate a business under its own name and must pay taxes that it owes the government.  It has the power to own property or lend or borrow money from others.

Corporations have been around for hundreds of years and were created as a way to protect investors who put their money into a venture that may or may not succeed.

As in modern times, corporations in the past offered protection of personal assets to those who put in an investment.  Without this protection, you can imagine the things we might not have today – from discovered lands to modern technology.