Examlex
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Formation
The process of legally creating a company or other organization; involves registration with relevant authorities and may include drafting a constitution or by-laws.
Corporation
A legal entity recognized by law as distinct from its owners that can own property, incur debts, sue, or be sued.
Partnership Income
The share of earnings distributed to the partners of a business, reflecting their individual stakes in the partnership’s profits.
Capital Balance
The amount of money that owners have invested in a company that has not been repaid or withdrawn.
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