An artificial person created by state charter is known as a corporation, which serves as a legal entity for business operations. Corporations provide limited liability protection to their owners and play a significant role in the economy. Other options listed do not accurately describe this legal concept. ;
An artificial person created by state charter is known as a corporation, which is a legal entity that provides limited liability protection to its owners. It plays a significant role in business by allowing owners to separate their personal assets from business liabilities. Other terms in the options do not accurately describe this legal concept.
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