Legal Definitions - corporate purpose

Definition: Corporate purpose refers to the overall goal or objective for which a corporation was established. It is typically outlined in the company's articles of incorporation.

For example, a company may have a corporate purpose of providing affordable and high-quality healthcare services to its customers. Another company may have a corporate purpose of developing innovative technology solutions to improve people's lives.

These examples illustrate how a company's corporate purpose guides its operations and decision-making. It serves as a guiding principle for the company's activities and helps to define its identity and mission.