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Corporation or Company

A corporation, as defined by provincial or federal laws, is a distinct form of business structure with its own legal identity. Its shareholders hold ownership of the corporation and are only liable for its debts up to the extent of their investment. This is commonly referred to as limited liability. It is a crucial concept in the world of finance, providing protection to shareholders and encouraging investment in corporations. Understanding the concept of limited liability is essential for any aspiring finance professional.
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