As a corporation represents a legal entity, it does not suffer from frailties of human beings - for example, it cannot die by itself, but only because somebody has made efforts to put an end to its existence. A partnership can be terminated if a partner dies, but, in contrast, the death of a shareholder, even the shareholder who possesses and controls a considerable percentage of the shares, will not effect either the very existence or the normal operation of a corporation. For example, if two people were carrying on a partnership business and both were killed in a traffic accident or a plane crash - the partnership would automatically be dissolved. In contrast, if two people formed a corporation together with each possessing 50% of the ...
October, 2007
As a corporation represents a legal entity, it does not suffer from frailties of human beings - for example, it cannot die by itself, but only because somebody has made efforts to put an end to its existence. A partnership can be terminated if a partner dies, but, in contrast, the death of a shareholder, even the shareholder who possesses and controls a considerable percentage of the shares, will not effect either the very existence or the normal operation of a corporation. For example, if two people were carrying on a partnership business and both were killed in a traffic accident or a plane crash - the partnership would automatically be dissolved. In contrast, if two people formed a corporation together with each possessing 50% of the ...
If your business is located in the state of Texas, here are the most important requirements you will have to meet in order to form a corporation:
- Name of your business: should contain one of the following words (or their abbreviations): "Incorporated", "Corporation," "Limited" , or "Company", and should clearly indicate, or hint on, the purpose outlined in the articles of incorporation. It may not be either the same, or closely resembling, the name of any other foreign or domestic corporation, nor can in contain the word "Lottery". Interestingly enough, Texas is famous as one of the toughest U.S. states ...
In the end of September, it was announced that a Canadian giant “Thompson Corporation” had purchased a Barcelona-based company “Prous Science”. The price of the purchase was not disclosed.Prous Science is a strong Spanish company, which supplies life sciences to both professional and business customers from all over the world. It was established in 1958, and has provided scientists with information on drug development and drug innovations ever since. Its web portal contains data on over 265,000 biologically active compounds and almost 100,00 records about family patents. Currently, the staff of Prous Science exceeds 180 employees. Within the Canadian corporation, Prous Science will become a part of the huge electronic media company “Thomson Scientific”.
Thompson Corp., ...
On September 21, 2007, Spherion Corporation published a press-release with the results of an employment report that had been conducted among California workers. The results of the survey, conducted on behalf of Spherion Corporation by Harris Interactive(R), show that California workers are less satisfied with their employment opportunities than two months ago. More workers find it difficult to find a job in California, which is confirmed by the decrease in the Employee Confidence Index that dropped almost three points in August. Only sixty seven percent of employees are confident in their ability to keep a job with their current employer.A top-ranking Spherion executive links the results of the survey to the end of seasonal summer opportunities in the California job market. However, he adds that ...
On September 17, Memry Corporation, which is considered a leading provider of synthetic components to the medical industry, reported revenues for the fiscal year 2007. In accordance with the press-release published at CNNMoney.com - Memry Corporation FY 2007 Revenues, the Corporation’s net revenue for the year 2007 has accounted at about $51.7M, while last fiscal year it was roughly $52,6M. 2007 net income of Memry Corporation is $317,000, or $0.01 per share.Robert Belcher, Chief Executive Officer of Memry Corporation, has admitted that it was an extremely difficult year for Memry, but during the last fiscal quarter the sales went up and the prospects for the business look promising. “Our research and development initiatives have been a strong focus and point of investment in 2007 as ...
Corporate tax stands for a tax imposed on the corporate profits, and it can greatly vary between jurisdictions. The system of corporate taxation is very complex, and there are certain advantages and disadvantages for an individual taxpayer who decides to incorporate his business. The main advantage is that a shareholder can leave the funds in the corporation and use them as a vehicle of investment, thus avoiding some taxes until a later date. However, if losses are experienced, which usually happens when the business if young, a taxpayer is better off if the business in not incorporated so that the losses cannot be applied directly against personal income.In the U.S., although the federal corporate rate accounts to 35%, the “check the box” system, which was ...
The basic reason of establishing a nonprofit (or not-for-profit) corporation is simple - it helps to obtain funds from government agencies and private foundations. Additional important benefits of forming a nonprofit is a tax-exempt status and personal liability protection.However, nonprofit corporations have their own legal and tax peculiarities, which are advisable to carefully learn before incorporating your business into a nonprofit form. Due to the fact that nonprofit is a business organization that also serves a public purpose, it enjoys special legal treatment. Another major difference between a profit and nonprofit business relates to the distribution of the profits. While in a for-profit business, the owners and shareholders generally receive the profits, with a nonprofit all earned money remains within the organization, so that it can provide ...
There are a number of advantages associated with incorporation, most of which are based on the fact that the corporation is a separate legal personality. Today, let us have a look at the topic of limited liability - one of the most prominent pros of incorporation, at least at the first look.
As the corporation represents a separate legal entity, its shareholders are not liable for corporate debts and obligations - in other words, the corporation is fully responsible for its own wrong conduct. The shareholders’ liability is limited only to the amount they have paid for their shares. If the corporate assets are not sufficient to satisfy the obligations, the debt cannot be derived from the shareholders.
In view of the above, there is no doubt that limited ...
“An ounce of prevention is worth a pound of cure”
When you enter in a business with another person, you do not expect that your business will break down because of a dispute. However, in a corporate environment which involves shareholders and more than one partner, just like in a marriage, everything is possible - your partner(s) might get injured, divorced, or may die. This is why, in order to reduce the negative outcome of a possible business break-up in a future, it is crucially important to be legally prepared for any stressful situation that can arise between you and your business partner(s).
First of all, surround yourself with a team of professionals, such as accountants, financial advisors, marketing experts, and, of course, good lawyers. Before starting incorporating ...
Stocks of the leading technology names, such as Microsoft, Oracle, IBM and EMC, are enjoying a rising popularity among investors who seem to be shifting away from pumping their money into financial companies. In the opinion of Scott Kessler, head of the technology group at Standard & Poor’s Equity Research, people seem to be more attracted to buying stocks of the reliable, familiar technology brands which were already popular in the late 90s. One of the reasons for this is that the well-known corporations can successfully combine solid fundamentals with providing the newest products and services, like, for example, Apple’s iPhone, Microsoft’s Vista and office software, or Oracle’s Fusion - a major 2008 development. Also, due to the fall ...
