Public Corporation Legal Meaning and Definition

Here is a simplified definition of the legal term Public Corporation.

Public Corporation (noun):

A public corporation is a company that sells its shares of stock to the general public, often through an initial public offering (IPO). The public (individuals and institutions) becomes shareholders or owners in the company. A public corporation may also refer to a company owned by the government. In this context, the term "public" signifies that the company is state-owned or a government entity.