Virtual corporation

Definition

A virtual corporation is a temporary network of independent companies, suppliers, customers, or even rivals, linked primarily by information technology to share skills, costs, and access to one another's markets. It operates without a central office and appears to customers as a single, unified organization.

Related terms

Outsourcing: The business practice of hiring parties outside a company to perform services or create goods that traditionally were performed in-house by the company's own employees and staff.

Supply Chain Management: The management of the flow of goods and services involving the movement and storage of raw materials, of work-in-process inventory, and of finished goods from point of origin to point of consumption.

E: business - The use of electronic networks and applications to conduct business processes which include buying and selling products, servicing customers, and collaborating with partners