Introduction A corporation is a form of business organization in which ownership is usually represented by transferable stock certificates Stockholders have limited liability Corporations are independent legal entities Can make contracts, hold property, incur debt, sue, and be sued2 Introduction • A corporation is a form of business organization in which ownership is usually represented by transferable stock certificates – Stockholders have limited liability – Corporations are independent legal entities • Can make contracts, hold property, incur debt, sue, and be sued