llcs

(Wex page)
Overview

A close corporation is a corporation which does not exceed a statutorily defined number of shareholders and is not a public corporation. This number depends on the state's business laws, but the number is usually 35 shareholders.

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(Wex page)
Overview

When someone has a fiduciary duty to someone else, the person with the duty must act in a way that will benefit someone else, usually financially.

The person who has a fiduciary duty is called the fiduciary, and the person to whom...

(Wex page)
Overview

"Piercing the corporate veil" refers to a situation in which courts put aside limited liability and hold a corporation's shareholders or directors personally liable for the corporation’s actions or debts. Veil piercing is most common in...