A corporation is a company or group of people authorized to act as a single entity (legally a person) and recognized as such in law. Early incorporated entities were established by charter (i.e. by an ad hoc act granted by a monarch or passed by a parliament or legislature). Most jurisdictions now allow the creation of new corporations through registration.
Corporations come in many different types but are usually divided by the law of the jurisdiction where they are chartered into two kinds: by whether or not they can issue stock, or by whether or not they are for profit.
Where local law distinguishes corporations by ability to issue stock, corporations allowed to do so are referred to as "stock corporations", ownership of the corporation is through stock, and owners of stock are referred to as "stockholders." Corporations not allowed to issue stock are referred to as "non-stock" corporations, those who are considered the owners of the corporation are those who have obtained membership in the corporation, and are referred to as a "member" of the corporation.
The mainline of the CORP is 389 miles (626km). Traffic is estimated at 17,000 cars per year, consisting mainly of logs, lumber products, and plywood. CORP is a subsidiary of Genesee & Wyoming, which acquired the railroad as part of its acquisition with RailAmerica in late 2012. Until 2007, CORP also operated the 136-mile (219km) Coos Bay branch, another line once owned by the SP.
On May 17, 2007, CORP was awarded a Silver E. H. Harriman Award in Group C for the railroad's safety record in 2006. This award marked the first time a RailAmerica-owned railroad has earned a Harriman award.