Examlex
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Corporation
A legal entity that is separate and distinct from its owners, capable of owning property, entering into contracts, and being sued or suing.
Shareholders
Individuals or entities that own shares in a corporation, giving them certain rights such as voting on corporate matters.
Unlimited Personal Liability
A legal obligation where an individual can be held personally responsible for the debts and obligations of a business entity without any limit on the amount.
General Partners
Individuals in a partnership who are responsible for the management of the partnership, have unlimited liability for its debts, and share the partnership's profits.
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