What is a characteristic feature of a corporation?

A characteristic feature of a corporation is its perpetual existence regardless of changes in ownership. This means that the corporation continues to exist even if its owners or shareholders change. This continuity is fundamental to corporate entities, as they are treated as separate legal entities from their owners. This allows for stability and longevity in business operations, which is a key advantage for attracting investment and sustaining business activities over time.

The concept of perpetual existence also differentiates a corporation from other forms of business structures, such as sole proprietorships or partnerships, where the business may dissolve or undergo significant changes when ownership shifts or when an owner leaves the business. Therefore, the ability of a corporation to maintain its operations independently of its shareholders is a distinct and defining characteristic.