A "Corporation" is an association of persons, created by law and existing as an entity with powers and liabilities independent of those of its members. In the case of profit corporations, its owners are shareholders. The owners of nonprofits are members or sometimes shareholders. The management of a corporation consists of directors and officers, usually elected by its shareholders or members. Governance of the corporation is prescribed by law, bylaws of the corporation and the resolutions and decisions of its shareholders or members.
In order to form a corporation, whether profit, nonprofit, or ecclesiastical, Articles of Incorporation must be prepared and filed with the Bureau. The Articles of Incorporation must include all of the following: