CORPORATION

noun Date: 15th century 1. a group of merchants or traders united in a trade guild, the municipal authorities of a town or city, a body formed and authorized by law to act as a single person although constituted by one or more persons and legally endowed with various rights and duties including the capacity of succession, an association of employers and employees in a basic industry or of members of a profession organized as an organ of political representation in a corporative state, potbelly 1