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A business entity is an entity that is formed and administered as per corporate law [Note 1] in order to engage in business activities, charitable work, or other activities allowable. Most often, business entities are formed to sell a product or a service. There are many types of business entities defined
Legal status is the status or position held by an entity as determined by the law. [ 1 ] [ 2 ] [ 3 ] It includes or entails a set of privileges , obligations , powers or restrictions that a person or thing has as encompassed in or declared by legislation .
This category gathers organizations based on their particular legal status -- e.g., registered as a particular corporate structure, a nonprofit charity under the applicable laws, a cooperative, or some other structure. Not all organizations need to be categorized according to legal status.
The legal status suffix of a company (such as Inc., plc, LLC, and those in other languages such as GmbH, AG, and S.A.) is not normally included in the article title. Examples: Microsoft for Microsoft Corporation , Nestlé for Nestlé S.A. , Aflac for Aflac Incorporated , Deutsche Post for Deutsche Post AG , and JPMorgan Chase for JPMorgan Chase ...
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 personhood or juridical personality is the legal notion that a juridical person such as a corporation, separately from its associated human beings (like owners, managers, or employees), has at least some of the legal rights and responsibilities enjoyed by natural persons. In most countries, a corporation has the same rights as a ...
Precedent-setting legal battles played out across the country in 2022, laying out new rules and expectations for businesses, industries, and personal finance. From Elon Musk's Twitter takeover, to ...
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]