Webster's English Dictionary

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corporation

cor.po.ra.tion \.ko.r-p*-'ra--sh*n\ n obs  1a: a group of merchants or 
   traders united in a trade guild  1b: the municipal authorities of a town or 
   city  2: a body formed and authorized by law to act as a single person 
   although c onstituted by one or more persons and legally endowed with 
   various rights and duties including the capacity of succession 3: an 
   association of employers and employees in a basic industry or of memb ers 
   of a profession organized as an organ of political representation in a 
   corporative state 4: POTBELLY