Initially, the concept of an incorporated company was developed in response to the need in financing large economic projects without the limitations associated with sole proprietorships and partnerships. Sole proprietorships created problems because they did not allow for the acquisition of substantial capitals through the participation of many entrepreneurs. The difficulty with partnerships was that major decisions needed to be agreed upon with all the partners, thus making large partnerships impractical. What was needed was to make a large number of people participate in a business venture without playing an active role in it, and the idea of a corporation was initially designed to accomplish this end. Therefore, the most significant feature of an incorporated company is that it represents a separate legal entity from ...
Don Gould
Initially, the concept of an incorporated company was developed in response to the need in financing large economic projects without the limitations associated with sole proprietorships and partnerships. Sole proprietorships created problems because they did not allow for the acquisition of substantial capitals through the participation of many entrepreneurs. The difficulty with partnerships was that major decisions needed to be agreed upon with all the partners, thus making large partnerships impractical. What was needed was to make a large number of people participate in a business venture without playing an active role in it, and the idea of a corporation was initially designed to accomplish this end. Therefore, the most significant feature of an incorporated company is that it represents a separate legal entity from ...
Preliminary analysis of the best-positioned stocks that may be the most powerful in 2008 shows that three companies, namely, Best Buy (NYSE: BBY), Ctrip.com (Nasdaq: CTRP), and Apple (Nasdaq: AAPL), look especially promising.
Best Buy Co. Inc. (NYSE: BBY) is the largest national corporative retailer dealing with consumer electronics. Its current profits show a tendency to rise 8.7 percent, which is well ahead of the most daring expectations of the leading stock analysts. In the second quarter of this year, Best Buy’s profits rose $250 million (in comparison with $230 million increase observed in the second quarter of 2006), or 55 cents per share (in comparison with last year's 47 cents per share). Circuit City (NYSE: CC), the closest rival of Best Buy, is ...
One-person corporations are legal in many states, and Maryland is one of them. Although any corporation should have a board of directors to hold meetings and vote, a small corporation does not have to necessarily include a "room full of suits", as says Michael Hanley, an accountant at Merl & Hanley in Smithtown, N.Y. Sole-director boards are typical for single-shareholder corporations, and such a structure does not have to create any difficulties in holding an annual meeting or keeping minutes for a sole director and the 100 percent owner of his own corporation.
C. Dickinson Hill, a business attorney from Los Angeles, says that a written consent is the most appropriate form to accomplish a required meeting for a one-person corporation. Gerald Bloch, ...
We are now used to frequent reports on contaminated products imported from China. But what about our domestic produce? Unfortunately, quality of foodstuff supplied by our food giants is not always perfect, either. Pesticide-laced cantaloupes, listeria-loaded chickens, poisonous peanut butter, contaminated spinach... now the list is even longer since ten U.S. states, including Maryland and Pennsylvania, have been recently included in the recall of e.coli - tainted ground beef, which was supplied by Cargill Meat Solutions Corporation, a Wyalusing, Pa., firm, to the biggest supermarkets, such as Weis, Giant, and Wegmans in Maryland. More than one million pounds of meat with use-by dates from October 19 to November 3, 2007 and stamped with number 9400, were contaminated with one of the most dangerous strains ...
In view of the recent events involving three crash landings of Bombardier Q400 planes, some major airlines are inclining towards dropping their plane fleet manufactured by Bombardier Corporation. The first was Scandinavian Airlines System, which refused to use its extensive fleet of 27 Q400 aircrafts after they experienced a crash landing involving a 70-seat Bombardier plane, which landing gear collapsed when the plane was landing in Copenhagen on October, 27. Fairly enough, SAS officials say that they have lost confidence in this Canadian-manufactured turboprop. The Scandinavian Airlines were the first to purchase Q400s, which were put onto the market by Bombardier Corporation seven years ago.
The current world-wide fleet of Q400s includes 165 aircrafts serving such notable carriers as Horizon Air Industries Inc. in Seattle, Japan ...
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 ...
