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A modern form of profit corporations exists in the form of a "benefit corporations." A number of for-profit corporations have opted to change their corporate form to this one. Many new corporations have been incorporating as benefit corporations. A benefit corporation aims to gain profit but also has a social mission that may have to do with ...
A corporation or body corporate is an individual or a group of people, such as an association or company, that has been authorized by the state to act as a single entity (a legal entity recognized by private and public law as "born out of statute"; a legal person in a legal context) and recognized as such in law for certain purposes.
With jurisdictions that recognize this form of business, a benefit corporation is intended "to merge the traditional for-profit business corporation model with a non-profit model by allowing social entrepreneurs to consider interests beyond those of maximizing shareholder wealth."
the words "person" and "whoever" include corporations, companies, associations, firms, partnerships, societies, and joint stock companies, as well as individuals; This federal statute has many consequences. For example, a corporation may enter contracts, [23] sue and be sued, [24] and be held liable under both civil and criminal law. [25]
Burwell v. Hobby Lobby Stores, Inc., 573 U.S. 682 (2014), is a landmark decision [1] [2] in United States corporate law by the United States Supreme Court allowing privately held for-profit corporations to be exempt from a regulation that its owners religiously object to, if there is a less restrictive means of furthering the law's interest, according to the provisions of the Religious Freedom ...
A History of Small Business in America (ISBN 0-8057-9824-2) (1992) Blackford, Mansel G., and K. Austin Kerr. Business Enterprise in American History (ISBN 0395351553) (1990) Blaszczyk, Regina Lee, and Philip B. Scranton, eds. Major Problems in American Business History: Documents and Essays (2006) 521 pp. Bryant, Keith L.
Before James Slattery came to embody the for-profit corrections business, he built a career in another industry that thrives on high occupancy rates: hotels. A graduate of St. John’s University in Queens, N.Y., Slattery worked for the Sheraton Hotel corporation beginning in the 1970s.
Many US states have adopted the Model Business Corporation Act, but the dominant state law for publicly traded corporations is Delaware General Corporation Law, which continues to be the place of incorporation for the majority of publicly traded corporations. [45] Individual rules for corporations are based upon the corporate charter and, less ...