Define public sector and clearly show the major division of public sector
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
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1 Define public sector and clearly show the major division of public sector
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Step 1
Corporation
- A corporation is an organization a collection of individuals or a business—that has been allowed by the law to function as a singular entity and is legally accepted as one for specific functions.
- Charters were used to forming early incorporated companies. The majority of countries currently permit the formation of new companies through registrations.
- A company is legally a different entity from its owners. Corporations have many of the same legal rights and obligations as people.
- A company can be formed by an individual or by a group of individuals who have the same objective. This may not always imply turning a profit.
- There are two main categories of corporations:
- Private Sector Corporates
- Public Sector Corporates
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