This would be a government corporation. They are designed in order to take care of commercial activities for the government.
A corporation typically requires a minimum of one director to operate effectively.
The license to form a corporation issued by the state government is called a "corporate charter" or "articles of incorporation." This legal document establishes the existence of the corporation in the eyes of the state and outlines its purpose, structure, and governance. Once filed and approved, it grants the corporation the rights and privileges to operate under state law.
Crown corporations are government-owned entities that operate in sectors such as transportation, energy, and telecommunications. The identity of a crown corporation is closely tied to its public ownership and mandate to serve the public interest. This identity influences how the corporation is governed, funded, and held accountable to the government and taxpayers.
The shareholders hjave the ultimate power and the officers operate the corporation.
No definitely not.
Am example of a government corporation is: amtrak Post Office Federal Deposit Insurance Corporation (FDIC)
minimum 10 people
A "Close Corporation" is generally a smaller corporation that elects close corporation status and is entitled to operate without strict formalities. It has more of a relaxed environment.
Usually a law firm will operate as a professional corporation. They may also work as a partnership.
it is a government corporation.
A public corporation is created to perform a governmental function or to operate under government control, such as a municipal water company or hospital. heres the link(mixed w/ private corps.)>>> http://en.wikipilipinas.org/index.php?title=Top_100_corporations