chaska
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Mon Jun-27-05 06:37 PM
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Question about corporations: |
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Can someone define what a corporation is, from a technical standpoint? I'm particularly interested to know if they were designed, from a legal perspective, to have a temporary life. And if so, what is the limiting factor that determines how long a corporation lives? Again, I'm talking about the legal particulars and about the original definition of the term 'corporation', and how that definition may have changed.
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FloridaPat
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Mon Jun-27-05 06:57 PM
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1. A corporation is a legal entity. It can own and sell just about anything. |
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They can live forever. Usually there is a renewal charge from the state where they are incorporated in. As long as that is paid, the corporation continues. There is no limiting factor for determining life.
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ElaineinIN
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Mon Jun-27-05 07:31 PM
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Corporations can be voluntarily dissolved, judicially dissolved (court orders it) or administratively dissolved (for nonpayment of fees or failure to fiel reports, for example). Also, I think you can put a provision in your articles of incorporation to limit the duration of the corporation, but it doesn't happen all that often.
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Shoeempress
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Mon Jun-27-05 06:57 PM
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2. They "live" as long as they pay their registration fee each year. |
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Go to the secretary of state for any state, that is where corps are created.
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jody
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Mon Jun-27-05 07:00 PM
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3. You'll receive several useful definitions but I also encourage you to |
mikeiddy
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Mon Jun-27-05 07:20 PM
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Thu Apr 25th 2024, 05:42 PM
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