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That would be a direct contradiction to what a corporation is. <>
Not true!!
1) See
http://www.business-opportunities.biz/2007/11/12/setting-up-a-one-person-corporation/
2) Lord Chancellor Haldane: "...a corporation is an abstraction. It has no mind of its own any more than it has a body of its own; its active and directing will must consequently be sought in the person of somebody who is really the directing mind and will of the corporation, the very ego and centre of the personality of the corporation."
See http://en.wikipedia.org/wiki/Corporation
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What else can I help you with?
Can one person be a corporation?
One person cannot be their own corporation. This is because there are too many jobs to be done by one person efficiently.
How many people own a corporation?
Most corporations can be owned by any number of people. Ownership in a corporation is represented by shares of stock. Each "share" represents an equal portion of ownership, and can be owned by a single person, more than one partners, or even another corporation. A special kind of corporation, called a Subchapter-S Corporation, receives certain tax benefits but cannot have more than 75 individual owners at a time.
What Is The Minimum Number Of Owners For Any Corporation Or LLC?
For the LLC and corporation, the minimum number of owners is one person. Exactly the same person can own the company, run the company and become named because the sole officer, director, or manager from the business. Don't let a lawyer let you know that she or he should be named in one of these simple roles.
Can two companies have the same owner?
Yes, a single person/business can own many companies.
What is business with the legal rights of a person and which may be owned by many people?
A corporation is a business that is owned by many people but by law acts as a single entity, separate from its members.
Can one person be a corporation?
One person cannot be their own corporation. This is because there are too many jobs to be done by one person efficiently.
A sentence for corporation?
A corporation is a group of people or corporation that has the permission to act as a single entity. Corporations have most of the rights and responsibilities that a person would have.
What does it mean when someone says that a corporation is an artificial person created by law?
It basically means that for certain legal purposes, a corporation is similar to a person. For example, a corporation can own property, and have certain responsibilities.
What does it mean when someone says a corporation is an artificial person created by law?
It basically means that for certain legal purposes, a corporation is similar to a person. For example, a corporation can own property, and have certain responsibilities.
What is a franchise and how is it different from a regular business?
It is owned by a single person. Rather than a corporation.
What is an organization owned by many people but treated by law as thought it was a single person?
Corporation
What is a organization owned by many people but treated by law a though it were a single person?
a corporation
Do you own your incorporation?
One does not own an incorporation. Incorporation is the process by which a corporation is created. In fact, one does not really own a corporation either. One may own shares issued by a corporation, perhaps even all of the shares, but ownership of even all the shares of a corporation does not mean that you own the corporation. Ownership of shares of a corporation merely gives you certain rights. These include the right to vote in the election of directors and the right to receive any dividends. A corporation exists independently from the shareholders, and is often referred to as an artificial person.
What is the difference between a corporation and an association?
A corporation is a company that is authorized as a single entity. An association is more than one person joined together for a joint purpose.
Who owns a corporation?
Absolutely, this is done quite frequently in business's. Notice how some company's are called divisions or subsidiary of other companies, well that's because they are separate corporations owned by different corporations. The true owner is the person, or entity that owns 100% of the stock of the company. Prime example is Bank of America, each branch is incorporated but solely owned by the main corporation.
How many people own a corporation?
Most corporations can be owned by any number of people. Ownership in a corporation is represented by shares of stock. Each "share" represents an equal portion of ownership, and can be owned by a single person, more than one partners, or even another corporation. A special kind of corporation, called a Subchapter-S Corporation, receives certain tax benefits but cannot have more than 75 individual owners at a time.
What is created by operation of law in corporation?
One thing created by operation of law in a corporation is the separate legal entity, which means the corporation is considered a legal "person" distinct from its owners. This allows the corporation to enter into contracts, sue and be sued, and own property in its own name. Additionally, the bylaws of a corporation are another key aspect created by operation of law, outlining how the corporation will be governed and managed.
