Иностранные языки : Business associations (english) - (реферат)

Business associations (english) - (реферат)

Дата добавления: март 2006г.

    BUSINESS ASSOCIATIONS
    Corporate bargain--limited liability
    I. CHARACTERISTICS OF A CORPORATION
    A. PRINCIPAL CHARACTERISTICS OF A CORPORATION

a)Entity Status--a corporation is a legal entity created under the authority of legislature b)Limited Liability--as a legal entity, a corp is responsible for its own debts; its sh’s liability is limited to their investment; c)Free Transferability of Interest--shares, representing ownership interests, are freely transferable; d)Centralized Management and Control--a corp’s management is centralized in a board of dirs and officers. Shs have no direct control over the board’s activities;

e)Duration--Continuity of Existence--a corp is capable of perpetual existence; f)Taxation--a corp, as an entity, pays taxes on its own income; shs are taxed only on dividends;

    g)Remember Attributes of the Corporation--CLIFF:
    1)Centralization of management;
    2)Limited liability;
    3)Forever (perpetual duration);
    4)Freely alienable (shares can be sold).

B. CORPORATIONS DISTINGUISHED FROM OTHER FORMS OF BUSINESS ASSOCIATIONS.

1. GENERAL PARTNERSHIPS--in most states, p’ships are governed by the Uniform Partnership Act (UPA). However, the Revised UPA (RUPA) has been adopted by a few states

a)Aggregate Status--a p’ship is an aggregation of two or more persons who are engaged in business as co-owners. Although not a lega