<P> There is some overlap between stock / non-stock and for - profit / not - for - profit in that not - for - profit corporations are always non-stock as well . A for - profit corporation is almost always a stock corporation, but some for - profit corporations may choose to be non-stock . To simplify the explanation, whenever "Stockholder" or "Shareholder" is used in the rest of this article to refer to a stock corporation, it is presumed to mean the same as "member" for a non-profit corporation or for a profit, non-stock corporation . </P> <P> Registered corporations have legal personality and are owned by shareholders whose liability is generally limited to their investment . Shareholders do not typically actively manage a corporation; shareholders instead elect or appoint a board of directors to control the corporation in a fiduciary capacity . In most circumstances, a shareholder may also serve as a director or officer of a corporation . </P> <P> In American English, the word corporation is most often used to describe large business corporations . In British English and in the Commonwealth countries, the term company is more widely used to describe the same sort of entity while the word corporation encompasses all incorporated entities . In American English, the word company can include entities such as partnerships that would not be referred to as companies in British English as they are not a separate legal entity . </P> <P> Despite not being individual human beings, corporations, as far as US law is concerned, are legal persons, and have many of the same rights and responsibilities as natural persons do . For example, a corporation can own property, and can sue or be sued . Corporations can exercise human rights against real individuals and the state, and they can themselves be responsible for human rights violations . Corporations can be "dissolved" either by statutory operation, order of court, or voluntary action on the part of shareholders . Insolvency may result in a form of corporate failure, when creditors force the liquidation and dissolution of the corporation under court order, but it most often results in a restructuring of corporate holdings . Corporations can even be convicted of criminal offenses, such as fraud and manslaughter . However, corporations are not considered living entities in the way that humans are . </P>

Is there a difference between company and corporation
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