Firstly before delving into the complex interwoven legalities of Corporations it is imperative to know what a Corporation is and what separates it from another form of business i.e. a partnership, trust or a hybrid of both. The main difference between a Corporation and every other business type is that a Corporation is a legal entity that is independant from the people that own it (shareholders) and the people that control it (Board of Directors). Essentially a Corporation is a separate entity that can be taxed, enter contracts, collect debt, and conduct business separate from its owners. Another major difference is that when the owners of the Corporation die the company does not dissolve since it is separate from its shareholders/owners.
Though in order to be listed as an American Corporation the business must first meet a list of requirements. These requirements are that the company must have a quorum, 75 percent, of American investors, directors, and the CEO must be a citizen of the U.S. (United States Code: Title 46a,802. Corporation, Partnership, or Association as Citizen | LII / Legal Information Institute). These requirements are fairly easy for a business to attain and maintain.
A prime example of a Corporation eluding the law and its pu...
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...The Policy Institute. N.p., 20 Nov. 2012. Web. 06 May 2014.
Clark, Josh. "Why do corporations have the same rights as you?" How Stuff Works. How Stuff
Works, 01 April 2008. Web. 07 May 2014.
"United States Code: Title 46a,802. Corporation, Partnership, or Association as Citizen | LII / Legal
Information Institute." United States Code: Title 46a,802. Corporation, Partnership, or Association as Citizen | LII / Legal Information Institute. United States of America, n.d. Web. 08 May 2014.
"U.S. Food and Drug Administration." Recalls, Market Withdrawals, & Safety Alerts. United States
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