Which of the following best defines a corporation?

A corporation is best defined as a form of ownership that allows for shareholder investment. This structure enables individuals to pool their resources, share ownership in the company, and participate in its profits and losses. Corporations are recognized as separate legal entities from their owners, affording them certain legal protections and limited liability, which means shareholders are typically not personally responsible for the corporation's debts. This framework encourages investment because individuals can invest in the corporation, potentially receiving dividends or capital gains without risking their personal assets beyond their initial investment.

Unlike the concept of a sole proprietorship, which is owned by a single individual, or a partnership, which involves a group of individuals sharing ownership, a corporation distinctly stands out due to its capacity to issue shares to the public, thereby attracting a diverse range of investors. The mention of property types and time-sharing agreements falls outside the definition of a corporation, which is fundamentally about ownership structure focusing on investment and management.