A corporation & incorporation includes

A corporation is an artificial legal entity, technically, a juridical person which, while made up of a number of natural persons or other legal entities, has a separate legal identity from them. Being a legal entity the corporation obtains legal rights and duties. The main features of incorporation includes: limited liability, meaning that the possible losses cannot exceed the amount which they added to the corporation as dues or paid for shares.

The economic justification for this lies in the fact that it permits anonymous trading in the shares of the corporation by virtue of removing the corporation’s creditors as a stakeholder in such a transaction. Without limited liability, a creditor would not likely permit any share to be sold to a buyer of at least the same creditworthiness as the seller. Second is perpetual lifetime – the assets and structure of the corporation survive beyond the lifetime of any of its members or agents.

This allows for permanence and collections of capital, which thus becomes available for investment in projects of a better amount and over a longer term than if the corporate assets remained subject to dissolution and distribution. It is imperative to note that the “perpetual lifetime” feature is a sign of the limitless possible period of the corporation’s existence, and its accumulation of wealth and thus power. In theory, a corporation can have its charter revoked at any time, putting an end to its existence as a legal entity.

Nevertheless, in practice, dissolution only occurs for corporations that request it or fail to meet annual filing requirements. Third is ownership and control – humans and other legal entities composed of humans, such as trusts and other corporations, can have the right to vote or share in the profit of corporations. In the case of for-profit corporations, these voters hold shares of stock as proof of ownership of the corporation, and are thus called shareholders or stockholders.

When no stockholders exist, a corporation may exist as a non-stock corporation, and instead of having stockholders, the corporation has members who have the right to vote on its operations. If the non-stock corporation is not operated for profit, it is called a not-for-profit corporation, the corporation comprises a collective of individuals with a distinct legal status and with special privileges not provided to ordinary unincorporated businesses, to voluntary associations, or to groups of individuals Corporations were created by special charter of governments.

These are usually registered with the state, province, or national government and become regulated by the laws enacted by that government. Registration is the main prerequisite to the corporation’s assumption of limited liability. As part of this registration, it must in many cases be required to designate the principal address of the corporation as well as a registered agent, a person or company that is designated to receive legal service of process. As part of the registration, it may also be required to designate an agent or other legal representative of the corporation depending on the filing jurisdiction.

A corporation files articles of incorporation with the government, laying out the general nature of the corporation, the amount of stock it is authorized to issue, and the names and addresses of directors. A board of directors governs a corporation on the behalf of the members. The corporate members elect the directors, and the board has a fiduciary duty to look after the interests of the corporation. The corporate officers such as the CEO, president, treasurer, and other titled officers are usually chosen by the board to manage the affairs of the corporation.

Corporations can also be controlled (in part) by creditors such as banks. In return for lending money to the corporation, creditors can demand a controlling interest analogous to that of a member, including one or more seats on the board of directors. Creditors are not said to “own” the corporation as members do, but can outweigh the members in practice, especially if the corporation is experiencing financial difficulties and cannot survive without credit.

Calculate the price
Make an order in advance and get the best price
Pages (550 words)
$0.00
*Price with a welcome 15% discount applied.
Pro tip: If you want to save more money and pay the lowest price, you need to set a more extended deadline.
We know how difficult it is to be a student these days. That's why our prices are one of the most affordable on the market, and there are no hidden fees.

Instead, we offer bonuses, discounts, and free services to make your experience outstanding.
How it works
Receive a 100% original paper that will pass Turnitin from a top essay writing service
step 1
Upload your instructions
Fill out the order form and provide paper details. You can even attach screenshots or add additional instructions later. If something is not clear or missing, the writer will contact you for clarification.
Pro service tips
How to get the most out of your experience with MyhomeworkGeeks
One writer throughout the entire course
If you like the writer, you can hire them again. Just copy & paste their ID on the order form ("Preferred Writer's ID" field). This way, your vocabulary will be uniform, and the writer will be aware of your needs.
The same paper from different writers
You can order essay or any other work from two different writers to choose the best one or give another version to a friend. This can be done through the add-on "Same paper from another writer."
Copy of sources used by the writer
Our college essay writers work with ScienceDirect and other databases. They can send you articles or materials used in PDF or through screenshots. Just tick the "Copy of sources" field on the order form.
Testimonials
See why 20k+ students have chosen us as their sole writing assistance provider
Check out the latest reviews and opinions submitted by real customers worldwide and make an informed decision.
business
Great job
Customer 452773, February 13th, 2023
DATA565
The support team was late responding , my paper was late because the support team didn't respond in a timely manner. The writer of the paper finally got it right but seems there was a problem getting the revisioin to me.
Customer 452773, April 7th, 2024
Nursing
Impressive writing
Customer 452547, February 6th, 2021
History
Looks great and appreciate the help.
Customer 452675, April 26th, 2021
Business and administrative studies
looks good thank you
Customer 452773, March 3rd, 2023
Business and administrative studies
Thanks
Customer 452773, March 3rd, 2023
Human Resources Management (HRM)
excellent, great job
Customer 452773, June 19th, 2023
Data 564
excellent work
Customer 452773, April 11th, 2024
Leadership Studies
excellent job as always
Customer 452773, September 2nd, 2023
English 101
great summery in terms of the time given. it lacks a bit of clarity but otherwise perfect.
Customer 452747, June 9th, 2021
BUSINESS LAW
excellent job made a 93
Customer 452773, March 22nd, 2023
Business and administrative studies
excellent, got a 100
Customer 452773, May 17th, 2023
11,595
Customer reviews in total
96%
Current satisfaction rate
3 pages
Average paper length
37%
Customers referred by a friend
OUR GIFT TO YOU
15% OFF your first order
Use a coupon FIRST15 and enjoy expert help with any task at the most affordable price.
Claim my 15% OFF Order in Chat
Close

Sometimes it is hard to do all the work on your own

Let us help you get a good grade on your paper. Get professional help and free up your time for more important courses. Let us handle your;

  • Dissertations and Thesis
  • Essays
  • All Assignments

  • Research papers
  • Terms Papers
  • Online Classes
Live ChatWhatsApp