mediation. n. the attempt to settle a legal dispute through active participation of a third party (mediator) who works to find points of agreement and make those in conflict agree on a fair result.
Subchapter S (S Corporation) What is a 'Subchapter S (S Corporation)'. A Subchapter S (S Corporation) is a form of corporation that meets specific Internal Revenue Code requirements, giving a corporation with 100 shareholders or less the benefit of incorporation while being taxed as a partnership.
To qualify under Subchapter S, the corporation must: 1  Be incorporated within the United States; 2  Not be part of an affiliated group that can file a consolidated tax return; 3  Have fewer than 75 shareholders;  Have shareholders who are individuals, estates, or certain types of trusts; 1  and. Have only one class of outstanding stock.