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A company once incorporated becomes a legal personality, a juristic entity, separate and distinct from its members and shareholders and capable of having its own rights, duties and obligation and can sue or be sued in its own name.
Wiki User
∙ 16y ago
Wiki User
∙ 15y agoIncorporation is a way of limiting the liability of the individuals that own a corporation. The owner doesn't get sued, the corporation does. This protects a business owner from loosing their home and personal assets if someone sues the business. In some cases, the 'veil' that protects the ower(s) from liability can be removed, and the owners can be enjoined into the law suit. Such occurances happen when a corporation is not funded with enough assets to balance its debts and liabilities. Given the rather bad experiences of the last decade (such as Enron) it is easier to hold corporate officers responsible for their actions then it was in the past.
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What do mean by profit prior to incorporation?
Profit prior to incorporation is that profit which a company gets between the period of date of buying and date of incorporation
Is incorporation of materials into an organism mean excretion?
No
For the earth too had on her black veil What does this mean?
The earth's veil conceals sin the people have and the veil it self is society.
What does the name DUVAK mean?
veil
What does Inc mean?
Incorporated
Which theory of incorporation holds that the Fourteenth Amendment applied the entire Bill of Rights to the states nothing more and nothing less?
Total Incorporation or full incorporation
What is blanket incorporation?
Blanket incorporation is gay.
What does pierce the veil mean?
The phrase means to reveal something that is hidden.
What does the black veil bride symbol mean?
When a nun marries into the church she wears a black veil
When was the Solar City incorporation established?
The Solar City Incorporation is an Incorporation that sells wholesale solar energy equipment. The Incorporation was established in 2012 and incorporated in New York, USA.
What is the incorporation controversy?
The incorporation controversy s a debate occurred with the incorporation doctrine. The incorporation doctrine makes select provisions of the Bill of Rights apply to the state and local governments.
What is the difference of corporation and incorporation?
Incorporation is the act of becoming a corporation.
