DE FACTO CORPORATION

A corporation in fact. A company that hasn’t completed all of the steps that are necessary to be officially recognized as a corporation although it is acting as if it were legally registered and in existence. Provided that the officers, directors and shareholders were acting in good faith and believed that they had completed all the steps and were running a properly formed corporation, the courts will treat the corporation as if it all the steps were completed. (See also a De Jure Corporation.)