Corporate law
Corporate Law (corporations law, company law) deals with the formation and operations of corporations and is related to commercial and contract law. A corporation is a legal entity created under the laws of the state it’s incorporated within. State laws, which vary from state to state, regulate the creation, organization and dissolution of their corporations. A corporation creates a legal or “artificial person” or entity that has standing to sue and be sued, enter into contracts, and perform other duties necessary to maintain a business, separate from its stockholders.
Corporations are taxable entities, which shields the individual owners or shareholders from personal liability for the liabilities and debts of the corporation, with some limited exceptions – such as unpaid taxes. Corporations are often used in tax structuring, as they are taxed at a lower rate than individuals. Until formally dissolved, a corporation has perpetual life; the termination or deaths of officials or stockholders does not alter the corporate structure. States have registration laws requiring corporations that incorporate in other states to request permission to do in-state business. Copyright HG.org |
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Read the text about corporate law. Pick up the new vocabulary and supply the translation of the new words andd word combinations.
Types of company (follow the link to learn more)
Private limited company (Ltd) General partnership Public limited company (PLC) Limited partnership Sole proprietorship |
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Individual Work:
Read the information about the type of company and write a paragraph to explain the difference between them.
Read the information about the type of company and write a paragraph to explain the difference between them.