"Enterprise" is simply a fancy word for a business organization. People can form different types of enterprises (business organizations), such as sole proprietorships, partnerships, and corporations. So a corporation is simply one type of business enterprise. The distinguishing features of a corporation are (1) in order to be a corporation, a business enterprise must obtain a charter from the government. (A "charter" is a legal document that gives the corporation the right to exist and conduct business. Other types of business enterprises, such as sole proprietorship and a partnership, do not require a charter.); and (2) a corporation is considered to be a separate legal entity, and possesses rights and responsibilities which are distinct from those of its stockholders (owners).