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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
United States corporate law. The New York Stock Exchange ( headquarters pictured) is the major center for listing and trading shares in United States. Most corporations are, however, incorporated under the influential Delaware General Corporation Law. United States corporate law regulates the governance, finance and power of corporations in US law.
Certificate of incorporation. A certificate of incorporation is a legal document/license relating to the formation of a company or corporation. It is a license to form a corporation issued by the state government or, in some jurisdictions, by a non-governmental entity/corporation. [1] Its precise meaning depends upon the legal system in which ...
By convention, most common law jurisdictions divide the constitutional documents of companies into two separate documents:. the Memorandum of Association (in some countries referred to as the Articles of Incorporation) is the primary document, and will generally regulate the company's activities with the outside world, such as the company's objects and powers.
A limited liability company ( LLC) is the United States -specific form of a private limited company. It is a business structure that can combine the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation. [ 1 ] An LLC is not a corporation under the laws of every state; it is a legal form of a ...
In law, incorporation by reference is the act of including a second document within another document by only mentioning the second document. [1] This act, if properly done, makes the entire second document a part of the main document. Incorporation by reference is often found in laws, regulations, contracts, legal and regulated documentation.
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