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service corporation

Comprehensive Analysis

1) "Service" -- As to service corporation 1ser·vice Pronunciation: 's&r-v&s Function: noun Etymology: Middle English, from Anglo-French servise, from Latin servitium condition of a slave, body of slaves, from servus slave 1 a : the occupation or function of serving <in active service> b : employment as a servant <entered his service> 2 a : the work performed by one that serves <good service> b : HELP, USE, BENEFIT <glad to be of service> c : contribution to the welfare of others d : disposal for use <I'm entirely at your service> 3 a : a form followed in worship or in a religious ceremony <the burial service> b : a meeting for worship -- often used in plural <held evening services> 4 : the act of serving : as a : a helpful act <did him a service> b : useful labor that does not produce a tangible commodity -- usually used in plural <charge for professional services> c : SERVE 5 : a set of articles for a particular use <a silver tea service> 6 a : an administrative division (as of a government or business) <the consular service> b : one of a nation's military forces (as the army or navy) 7 a : a facility supplying some public demand <telephone service> <bus service> b : a facility providing maintenance and repair <television service> 8 : the materials (as spun yarn, small lines, or canvas) used for serving a rope 9 : the act of bringing a legal writ, process, or summons to notice as prescribed by law 10 : the act of a male animal copulating with a female animal 11 : a branch of a hospital medical staff devoted to a particular In economics and marketing, a service is the non-material equivalent of a good. Service provision has been defined as an economic activity that does not result in ownership, and this is what differentiates it from providing physical goods. It is claimed to be a process that creates benefits by facilitating either a change in customers, a change in their physical possessions, or a change in their intangible assets. By supplying some level of skill, ingenuity, and experience, providers of a service participate in an economy without the restrictions of carrying stock (inventory) or the need to concern themselves with bulky raw materials. On the other hand, their investment in expertise does require marketing and upgrading in the face of competition which has equally few physical restrictions. Providers of services make up the Tertiary sector of industry. 1 Key attributes 2 Service delivery 3 The service-goods continuum 4 List of economic services 5 See also 6 Finding related topics Services can be described in terms of their main attributes. Intangibility - They cannot be seen, handled, smelled, etc. There is no need for storage. Because services are difficult to conceptualize, marketing them requires creative visualization to effectively evoke a concrete image in the customer's mind. From the customer's point of view, this attribute makes it difficult to evaluate or compare services prior to experiencing the service. Perishability - Unsold service time is "lost", that is, it cannot be regained. It is a lost economic opportunity. For example a doctor who is booked for only two hours a day cannot later work those hours— she has lost her economic opportunity. Other service examples are airplane seats (once the plane departs, those empty seats cannot be sold), and theatre seats (sales end at a certain point). ..." 2) "Corporation" -- As to service corporation cor·po·ra·tion Pronunciation: "kor-p&-'rA-sh&n Function: noun 1 a : a group of merchants or traders united in a trade guild b : the municipal authorities of a town or city 2 : a body formed and authorized by law to act as a single person although constituted by one or more persons and legally endowed with various rights and duties including the capacity of succession 3 : an association of employers and employees in a basic industry or of members of a profession organized as an organ of political representation in a corporative state 4 : POTBELLY 1 Pronunciation Symbols Business law Business organizations Basic forms: Sole proprietorship Corporation Partnership (General · Limited · LLP) Cooperative USA: Business trust · LLC · LLLP Series LLC Delaware corporation Nevada corporation Commonwealth/Ireland/UK: Limited company (By shares · By guarantee) (Public · Proprietary) Civil law countries: AB · AG · ANS · A/S · A/S K.K. · N.V. · OY · S.A. · GmbH European Company Statute Doctrines Corporate governance Limited liability · Ultra vires Business judgment rule De facto corporation and corporation by estoppel Piercing the corporate veil Related areas of law Contract · Civil procedure A corporation is a legal entity which, while being owned collectively by a number of natural persons or other legal entities, can exist completely separately from them. This separation gives the corporation unique powers which other legal entities lack. The extent and scope of its status and capacity is determined by the law of the place of incorporation. Investors and entrepreneurs often form joint stock companies and incorporate them to facilitate a business; as this form of business is now extremely prevalent, the term corporation is often used to refer specifically to such business corporations. Corporations may also be formed for local government (municipal corporation), political, religious, and chari..." 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