Kind of. I would call it a company not a corporation though.
The Corporation
One person cannot be their own corporation. This is because there are too many jobs to be done by one person efficiently.
Yes. A corporation is an artificial person but is a person according to the law and thus can be a partner in a partnership.
It basically means that for certain legal purposes, a corporation is similar to a person. For example, a corporation can own property, and have certain responsibilities.
It basically means that for certain legal purposes, a corporation is similar to a person. For example, a corporation can own property, and have certain responsibilities.
A solo professional corporation is a corporation operated with one person as the board of directors. This corporation is usually for an individual who wants to run a business solely.
YES what kind of organization?
NASA is a government agency, specifically a civilian organization within the federal government of the United States. It is responsible for the nation's civilian space program and for aeronautics and aerospace research.
Yes.
Most corporations can be owned by any number of people. Ownership in a corporation is represented by shares of stock. Each "share" represents an equal portion of ownership, and can be owned by a single person, more than one partners, or even another corporation. A special kind of corporation, called a Subchapter-S Corporation, receives certain tax benefits but cannot have more than 75 individual owners at a time.
Of course. That's why a person becomes a guarantor -- to satisfy the corporation's debts if the corporation is unable to do so.