Corporate

Corporate is a term related to business. Corporate is a general word used both for company and corporation. In legal sense a corporate entity must be a registered entity either under the Companies Act or under the Special Act but excludes registered societies in all forms, partnership and proprietary firms, trusts etc. Corporate can exercise human rights against real individuals and the state and they may be responsible for human rights violations. Corporate Social Responsibility is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large.

Corporate is complicated by increasing social and economic interdependence, as different stakeholders compete to have a say in corporate affairs. In most developed countries excluding the English speaking world, company boards have representatives of both shareholders and employees to "codetermine" company strategy. Calls for increasing corporate social responsibility are made by consumer, environmental and human rights activists, and this has led to larger corporations drawing up codes of conduct.

Corporate has more importance because it indirectly motivates the employee and makes him/her feel a kind of affection over the work and interns get the work done on time. There are many advantages are like:

• Personal assets are protected from business debt and liability
• Corporation is perpetual
• Insurance, travel, and retirement plan deductions are TAX FREE benefits
• The ownership of the corporation is easily transferable
• Ownership will not affect current management
• Raising capital through the sale of stocks and bonds is simplified.