For-profit corporation

A for-profit corporation is an organization which aims to earn profit through its operations and is concerned with its own interests, unlike those of the public (non-profit corporation).

A for-profit corporation is usually an organization operating in the private sector which sets aims that eventually help the organization itself. This kind of a company makes shares of ownership available to the general public. The purchasers of those shares then become the company's shareholders; shareholders have bought a portion of ownership of the corporation by giving away certain amount of money (differentiating from company to company) or assets of a particular value. Such organizations are usually not aided by the government as they are working for private financial gains, unlike a non-profit organisation, which exists to serve a mission. The nature of a for-profit corporation is such that it is required to pay applicable taxes and register with the state. Any donation which they receive will also be subject to the tax policies of the concerned country. As these organizations are all corporations and have a separate identity from their owners the owners are not in their personal capacity required to satisfy any debts which the company might owe to anyone.

Unlike non-profit organizations the policies of these organizations are usually profit oriented. Managers(corporate employees) here have a profit oriented mindset and aim at maximising the revenue of the firm which in turn contributes to the dividends (in case of public limited) or profits of the shareholders/owners. Their aim can be accompanied by a goal of serving the society however that usually happens in cases of B-corporations.

A for profit corporation generally does mean an organization seeking profit however it has both modern forms and is also close to some other types of organizations as seen below.

A modern form of profit corporations exists in the form of B-Corporations. A number of for-profit corporations have opted to gain this status. Most organisations get this certificate in order to show their concern for the society. A benefit corporation does aim to gain profit but also believes in playing a role for the society in terms of considering the environment or the society when crafting its policies. Their status is actually issued by a non-profit organization called B-Labs. They are accepted as legal entities in several states of the United States and legislations have been passed to ensure their legal status.

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Wikipedia