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WW Cook, A treatise on the law of corporations having a capital stock (7th edn Little, Brown and Co 1913) vol I; WO Douglas and CM Shanks, Cases and Materials on the Law of Management of Business Units (Callaghan 1931) Robert C. Clark, Corporate Law (Aspen 1986) A Cox, DC Bok, RA Gorman and MW Finkin, Labor Law Cases and Materials (14th edn 2006)
Corporate law (also known as company law or enterprise law) is the body of law governing the rights, relations, and conduct of persons, companies, organizations and businesses. The term refers to the legal practice of law relating to corporations, or to the theory of corporations .
Common ownership in a hypothetical communist society is often distinguished from primitive communism, in that communist common ownership is the outcome of social and technological developments leading to the elimination of material scarcity in society. [30]
Other favorable corporate laws include asset protection for owners as well as confidential information protection through requiring the usage of private data servers. [21] Being a United States citizen is not a prerequisite for incorporating in the state, although there are countries of origin where businesses are ineligible. [ 21 ]
A business entity is not necessarily separate from the owner and the creditors can hold the owner liable for debts the business has acquired. [6] The taxation system for businesses is different from that of the corporates. A business structure does not allow for corporate tax rates. The proprietor is personally taxed on all income from the ...
The first state to enact a law authorizing the creation of limited liability companies was Wyoming in 1977. [13] The law was a project of the Hamilton Brothers Oil Company, which sought to organize its business in the United States with liability and tax advantages similar to those it had obtained in Panama. [14]
Depending on the type of capitalism, the economic laws that govern that particular system have different levels of restrictions for the state, market and property owners. [9] Characteristics of capitalism include the private ownership of property and the intention of production being the sales of the produced goods and services into the market.
There are many ways in which a business may be owned under the legal system of England and Wales. Different types of ownership are suitable for organisations depending on the degree of control the owners wish to have over the business. The choice of ownership method also relates to the organisations ability to raise funds for the business ...