unincorporated association

unincorporated association definition - business

unincorporated association

A contractual relationship among individuals who have come together for a specific purpose. Unlike a corporation, an unincorporated association does not have an existence that is independent from its members, and it cannot hold assets in its own name.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

Comments
Improve this definition.
Do you have more to add? Share your linguistic knowledge or observation.
/Register to save your comments.