Legislation helps in establishing a registration or legislative process which incorporates a corporation in it as a separate legal entity. A corporation possesses valid rights and obligations which can be different from its shareholders and employees and could conduct business as a, not for profit enterprise or profit-seeking enterprise. Charter created historical entities. By means of registration, most authorities now permit the development of new corporations. Besides legal personality, enrolled corporations are likely to be limited in terms of their accountability, shareholders own them and are commanded by a board of supervisors who are typically chosen or elected by the shareholders.