Unless evidence can be shown that somehow the corporation either lied or had some kind of criminal intent in the sales process, the consumer and society are responsible for the negative effects that a product or service might have. For instance, oil companies sell gasoline but are not responsibl...
As a legal entity, it can borrow money in its own name. Also, as owners of a corporation have limited liability, the most they can lose is their investment.Springer USEncyclopedia of Finance
Do professional service corporations have limited liability? The law on creating an LLC as a professional service corporation varies depending on the state and industry. Contact a tax expert for specific guidance on your professional services business.Compliance...
Still another feature of the corporation is limited liability. Corporate shareholders are responsible for the debts or liabilities of the corporation only to the extent that they have invested in it. Many investors preferinvestments in which their risk of personal loss is strictly limited; the ...
Owners have unlimited liability; may have to cover debts of other, less financially sound partners. Double taxation because both corporate profits and dividends paid to owners are taxed, although the dividends are taxed at a reduced rate. Owner has unlimited liability; total wealth can be taken ...
Corporations enjoy good relationships with the banks as well. Since they have limited liability and they are less risky, banks are willing to give them loans at a low rate as well. In a proprietorship business, banks are often reluctant to give out loans, and even if they do, they have ...
Kaplan's Georgia Corporations, Limited Partnerships and Limited Liability Companies, with Forms Kaplan's Nadler Georgia Corporations, Limited Partnerships and Limited Liability Companies with Forms is a valuable reference book for the general practitioner as well as for the corporate lawyer. This up-to...
Actions and Liability of Directors Statutory Requirements: [BERN](1) Board Action: by unanimous written agreement (doesn't require meeting), by proper vote at a meeting: requires notice (if special meeting), NO proxies/voting agreements, Quorum (must have majority present, unless bylaws allow ot...
The two most popular forms of business entities are corporations and limited liability companies. Corporations have a long history; but LLCs are the newer and more popular form of entity, and also provide more flexibility to its owners and managers. Each of them has its advantages and disadvanta...
There are several company structures that feature limited liability, including a limited liability company (LLC), an S corporation, and a C corporation. Partnerships may have limited liability partners, but at least one partner must have unlimited liability.1 ...