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Mutual company. A corporation that is owned by a group of members and that distributes income in proportion to the amount of business that members do with the company. Mutual Company. A company structure in which the company's owners are also its clients.
DEFINITION of 'Domestic Corporation'. A company that conducts its affairs in its home country. A domestic corporation is often taxed differently than a foreign corporation, and may be required to pay duties or fees on the importation of its products.ypically, a domestic corporation is able to conduct business in other states or other parts of the country where it has filed its articles of incorporation. Business that are incorporated in a different country from which they originate are referred to as foreign corporations.