Indiana Code > Title 16 > Article 25 > Chapter 1.1 – Definitions
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Indiana Code > Title 16 > Article 25 > Chapter 1.1 - Definitions
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.