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Those who take the initiative to organise a business prior to formation of the corporation are called promoters. Generally, promoters coordinate compliance with the legal requirements necessary to form a corporation, secure capitalization, and work to assemble the resources and…

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A minority shareholder has certain statutory rights, depending on the size of its stake in the company. Under English law, an interest of 25% gives the shareholder the power to block the passing of special or extraordinary resolutions, which covers…

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The shareholders’ agreement, which occurs almost exclusively in private companies, often contains many of the provisions contained in the articles of association of the company. The shareholders’ agreement will often contain provisions concerning what constitutes a deadlock, and how to…

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The principal parties within the corporate structure are the shareholders, directors, and officers. Public ownership of companies creates separation between owners and management and in order to ensure that shareholders’ interests are represented many corporations have a two-tiered corporate hierarchy.…

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The key distinction between a private company and a public company is that shares in a private company may not be offered to the public. Private companies constitute the vast majority of companies and may range from one-man operations to…

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Corporate charters confer many legal rights on corporations as entities separate from their owners. These corporate powers are the means by which a company accomplishes its business purposes and may be expressly, though not exclusively, stated in a jurisdiction’s corporate…

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Essentially, a corporation is a legal construct that provides a framework for relationships between people for the purpose of conducting business. A distinguishing characteristic of the corporate form is that it is a separate legal entity distinct from the shareholders.…

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In the UK, the term limited liability company can mean either a private company limited by shares (Limited or Ltd.) or a public limited company (plc). This article deals with the LLC in the United States. The limited liability company…

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At their most basic level, partnerships are unincorporated businesses. In a general partnership, individuals called general partners manage the business and are jointly and severally liable for all partnership debts. The partnership itself does not pay income taxes, rather the…

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A landmark is an event, discovery, development or change that marks an important stage in something. In a legal context, it is most commonly used in the phrase “landmark case”, also called a landmark decision or a seminal case. A…

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