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A corporation is owned by one or more shareholders and is overseen by a board of directors, which hires the business's managerial staff. Corporate models have also been applied to the state sector in the form of government-owned corporations. A corporation may be privately held (for example, a close company - see below) or publicly traded.
In most countries, corporate names include a term or an abbreviation that denotes the corporate status of the entity (for example, "Incorporated" or "Inc." in the United States) or the limited liability of its members (for example, "Limited", "Ltd.", or "LLC").
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
The institution most often referenced by the word "corporation" is publicly traded, which means that the company's shares are traded on a public stock exchange (for example, the New York Stock Exchange or Nasdaq in the United States) whose shares of stock of corporations are bought and sold by and to the general public. Most of the largest ...
In English law and in legal jurisdictions based upon it, a company is a body corporate or corporation company registered under the Companies Acts or under similar legislation. [8] Common forms include: Private companies limited by guarantee; Community interest company; Charitable incorporated organisation
Miniaturization and integrated circuits, together with an expansion of radio and television technologies, provided fertile ground for business development.Electronics businesses include JVC, Sony (Masaru Ibuka and Akio Morita), and Texas Instruments (Cecil H. Green, J. Erik Jonsson, Eugene McDermott, and Patrick E. Chodery), while also the companies in the computer-section above can be ...
In the United States, some of the examples are The Walt Disney Company, Warner Bros. Discovery and The Trump Organization (see below). In Canada, one of the examples is Hudson's Bay Company. Another such conglomerate is J.D. Irving, Limited, which controls a large portion of the economic activities as well as media in the Province of New Brunswick.
A corporation may be chartered in any of the 50 states (or the District of Columbia) and may become authorized to do business in each jurisdiction it does business within, except that when a corporation sues or is sued over a contract, the court, regardless of where the corporation's headquarters office is located, or where the transaction ...