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Meaning: a formal organization of people or groups of people
A group of persons who share common interests or a common purpose and who
are organized with varying degrees of formality compare corporation
[- Corporation = A business organization owned by a group of stockholders,
each of whom enjoys limited liability (that is, each can be held responsible
for losses only up to the limit of his or her investment). A corporation
has the ability to raise capital by selling stock to the public.
Chambers of Commerce are business advocacy groups which are usually not
associated with government. Chambers of commerce can also include economic
development groups, as well as tourism and visitors bureaus. There are basically
two models worldwide, 'compulsory' or 'continental', those which companies
of a certain area are obliged to belong to. This happens in most countries
of EU (France, Germany, Italy, Spain). Their main tasks are Foreign Trade
Promotion, Training and General Services to companies. They also have a
consultative function. This means that Administration must consult chambers
whenever a new law related industry or commerce is proposed.
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