report this ad
0 Vote

corporacion vs asociacion

  • Posted Mar 18, 2010
  • | 2984 views
  • | link
  • | flag

1 Answer

0 Vote

cor·po·ra·tion (kôrp-rshn) n. 1. A body that is granted a charter recognizing it as a separate legal entity having its own rights, privileges, and liabilities distinct from those of its members.


association

It can be formal, with rules and/or by-laws, membership requirements and other trappings of an organization, or it can be a collection of people without structure. An association is not a legally-established corporation or a partnership.

In an association there is more responsibility (and liabilities) given to the members as there is no legal entity that say can be sued, or issue stock, etc.

Answer this Question
report this ad