What is the difference between a corporation and an MNC?

A corporation is a legal entity that can engage in business activities, issue stock, and protect its owners from personal liability. A multinational corporation (MNC), on the other hand, is a specific type of corporation that operates in multiple countries, managing production or delivering services across international borders. While all MNCs are corporations, not all corporations are MNCs, as many operate solely within a single country. The key distinction lies in the global reach and operations of an MNC compared to a domestic corporation.