👉 The term "discorporate" is a legal term that refers to the act of transferring ownership, control or rights in a company, business entity, or other entity from one party to another. This can be done through various methods such as merger, acquisition, or reorganization. The purpose of discorporating an entity is to create a separate legal entity with its own assets and liabilities, which may include shares or stocks representing the ownership interest in the new entity.
