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An unincorporated entity will generally be a separate entity for accounting purposes, but may or may not be a separate legal entity. For example, partnerships in England and Scotland are separate entities for accounting purposes, but while English partnerships are not separate legal entities, in Scotland they are separate legal persons.
Under the Companies Ordinance, the name of a Hong Kong incorporated company may be registered in English, Chinese, or both. Unltd or Ultd (Unlimited/無限公司): similar to a limited liability company (Ltd) but whose members or shareholders do not benefit from limited liability should the company ever go into formal liquidation .
An unincorporated association is a collective of people with common goals who have chosen to formalise their relationship, but without incorporating as a company or similar legal entity. A further requirement is that the members are not associated together for profit. This distinguishes an unincorporated association from a partnership.
There are a number of legal benefits that come with incorporation. One significant legal benefit is the protection of personal assets against the claims of creditors and lawsuits. Sole proprietors and general partners in a partnership are personally and jointly responsible for all the legal liability (LL) of a business such as loans, accounts payable, and legal
An incorporated town or city in the United States is a municipality that is incorporated under state law. An incorporated town will have elected officials, as differentiated from an unincorporated community, which exists only by tradition and does not have elected officials at the town level.
The Corporation Under Russian Law: A Study in Tsarist Economic Policy (1991) Rungta, Radhe Shyam. The Rise of the Business Corporation in India, 1851–1900 (1970) Scott, W. R. Constitution and Finance of English, Scottish and Irish Joint-Stock Companies to 1720 Archived 2011-07-06 at the Wayback Machine (1912) Sobel, Robert.
For the purposes of International Traffic in Arms Regulations (ITAR) and Export Administration Regulations (EAR), a United States entity is so defined: [1]... a U.S. entity is a firm incorporated in the United States (or an unincorporated U.S. firm with its principal place of business in the United States) that is controlled by U.S. citizens or by another U.S. entity.
An uncorporation may be formed in an effort to align managers' and owners' interests more closely than in a typical corporation, or may donate most of its profits to charity, [1] or may pursue social responsibility goals that conflict with traditional corporate shareholder primacy. Equally, it escapes the regulatory supervision, checks and ...