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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.
A corporation is a company or group of people authorized to act as a single entity (legally a person) and recognized as such in law.Early incorporated entities were established by charter (i.e. by an ad hoc act granted by a monarch or passed by a parliament or legislature). corporation is a company or group of people authorized to act as a single entity (legally a person) and recognized as such in law.