Through out the country and the world there are many different types of corporations. Some larger than the others, but they all have power. Corporate Power! Intel, Microsoft, and Oracle are examples of major corporations. A corporation is a business whose articles of incorporation have been approved in some state. A corporation has a legal existence, rights; duties separate from those of the individual persons who form it from time to time. Corporations also have its own liabilities and assets, which are distinct from those of the directors or members. A corporation.
n has perpetual existence and a name or title of its own; it may also have a common seal for use on official documents. Another name for a corporation which staff will come across, particularly in legal volumes or documents is a body corporate.
There are many different characteristics of a corporation. In general, a corporation has certain specific characteristics that they all have the same. All different corporations have the same characteristics that make them a corporation. One main characteristic of a corporation is that they have centralized management in a board of directors. A corporation also has a continuity of existence. The death or withdrawal of any of the individual stockholders or shareholders will not affect the corporate existence or identity. Thus a corporation exists until it is terminated by provisions of its charter; by action of the State; or by other means. Even though a corporation has ceased to comply with some technical provisions of the law under which it was created, it ordinarily continues to exist until legal action is taken to cancel the charter. It may sue and be sued in its corporate name. It may acquire property in its own name. As a general rule, stockholders are not personally liable for any debts or obligations of the corporation. Individual stockholders may sell and transfer their stockholdings in any way they desire.
