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The MBCA has three principal benefits. First, by distilling many matters into black-letter law, it provides guidance on issues that have often been the subject of dispute and litigation (e.g., directors’ duties). This can promote clarity, consistency and certainty in business transactions.
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 ...
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
When used to refer to an owner of a business, the term "principal" can be a designation for any of several positions and entail a range of key responsibilities. But the rubric under which all the ...
The polar opposite of GM's decision, says Baack, could be the way BP CEO Tony Hayward became a public punching bag following his company's massive oil spill in the Gulf of Mexico. "In many cases ...
The 145-year-old insurance company has needed a lot of tech investment lately to tear down the walls between its many business units. How Principal Financial’s CIO tackles the tech debt problem ...
Corporate titles or business titles are given to corporate officers to show what duties and responsibilities they have in the organization. Such titles are used by publicly and privately held for-profit corporations, cooperatives, non-profit organizations, educational institutions, partnerships, and sole proprietorships that also confer corporate titles.
Principal's culture of moving people throughout the organization was one the elements that made company attractive to her, she said. "If you talk me through my career, I don’t spend a lot of ...