Corporation, defined; legal, juridical personality
A corporation is an artificial being created by operation of law, having the right of succession and the powers, attributes and properties expressly authorized by law or incident to its existence. (Corporation Code, Sec. 2) A corporation is a legal or juridical person with a personality separate and apart from individual stockholders or members and from any other legal entity into which it may be connected or related.
A corporation is a company or a group of people or an organization authorized to act as a single entity (legally a person) and recognized as such in law. Early incorporated entities were established by charter (i.e. by an ad hoc act granted by a monarch or passed by a parliament or legislature). Most jurisdictions now allow the creation of new corporations through registration. Corporations enjoy limited liability for their investors, which can lead to losses being externalized from investors to the government or general public.
SOURCES:
Corporation. From Wikipedia, the free encyclopedia. https://en.wikipedia.org/wiki/Corporation; https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3121519; https://www.corpnet.com/types-of-corporations/#gfp
It has always been the dream of many Filipinos to own and run their businesses. Many think that owning a business is easy as applying for a license and permit however, there are several steps before one can finally do so. Additionally, there is a difference from setting up a business and setting up a corporation. In this episode of Legal Help Desk, Attorney Karen Jimeno and Rod Nepomuceno with a corporate lawyer and a representative from the Department of Trade and Industry will teach viewers how to set up their own corporation. How is it different from setting up an ordinary business? What are the advantages of setting up a corporation? What are the steps in establishing a corporation?
SOURCE: Legal Help Desk Episode 91: Corporation. 9 News & Current Affairs. Published on Aug 27, 2014. https://www.youtube.com/watch?v=MHIr_SjyVME
A corporation is a company or a group of people or an organization authorized to act as a single entity (legally a person) and recognized as such in law. Early incorporated entities were established by charter (i.e. by an ad hoc act granted by a monarch or passed by a parliament or legislature). Most jurisdictions now allow the creation of new corporations through registration. Corporations enjoy limited liability for their investors, which can lead to losses being externalized from investors to the government or general public.
SOURCES:
Corporation. From Wikipedia, the free encyclopedia. https://en.wikipedia.org/wiki/Corporation; https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3121519; https://www.corpnet.com/types-of-corporations/#gfp
It has always been the dream of many Filipinos to own and run their businesses. Many think that owning a business is easy as applying for a license and permit however, there are several steps before one can finally do so. Additionally, there is a difference from setting up a business and setting up a corporation. In this episode of Legal Help Desk, Attorney Karen Jimeno and Rod Nepomuceno with a corporate lawyer and a representative from the Department of Trade and Industry will teach viewers how to set up their own corporation. How is it different from setting up an ordinary business? What are the advantages of setting up a corporation? What are the steps in establishing a corporation?
SOURCE: Legal Help Desk Episode 91: Corporation. 9 News & Current Affairs. Published on Aug 27, 2014. https://www.youtube.com/watch?v=MHIr_SjyVME
