Match each corporate characteristic $1$ through $8$ with the description that best relates to it$.$

$\backslash$table$[[$Characteristic$,$Descriptior$],[1.$ Government regulation,More severe than partnerships and proprietc$],[2.$ Mutual agency,Stockholders cannot bind corporation to con$],[4.$ Duration of life,High ability$],[5.$ Legal status,Unlimited$],[6.$ Owner authority and control,Separate legal entity$],[7.$ Owner liability,$]]$