The state or condition of being formed into or organized as a corporate body; the system by which corporations exist and function.
From 'corporate' plus the suffix '-cy' (forming abstract nouns). 'Corporate' comes from Latin 'corporatus' (formed into a body). The suffix '-cy' indicates a state or condition.
In medieval times, guilds created 'corporacy'—the first corporate bodies—allowing craftspeople to act as one unit with rights and responsibilities like a single person.
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