← Legal Glossary
Public Corporation
Definition
A corporation created by a state to carry out public functions, but structured as a separate legal entity with its own assets, liabilities, and ability to sue and be sued. Unlike a traditional government agency, it has a distinct legal identity separate from the state that created it.
Examples
- •NJ Transit was established as a 'body corporate and politic' with authority to own property, incur debt, and sue and be sued in its own name.