Terms Used In Nevada Revised Statutes > Chapter 641 > Registration of Firm, Partnership or Corporation Engaging or Offering to Engage in Practice of Psychology

• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.