llcs-corporations-partnerships

(Wex page)
Definition

A business that has complied with all the requirements of its state incorporation statute and is legally allowed to do business as a corporation.

See alsoDe facto corporationCorporation
(Wex page)
1. A retailer who purchases goods or services for resale to consumers in a principal capacity.

2. In securities law, a person who functions at least part time as an agent, broker, or principal in the business of offering, buying, selling, or otherwise...

(Wex page)
Definition

Noun

Someone appointed or assigned to act on behalf of another.

Verb

To hand over or assign responsibility to another, such as a subordinate in a business.

See alsoAgentProxy

(Wex page)
Definition

See: Shareholder Derivative Suit.

(Wex page)
Definition

In a corporation, a director is a person, appointed or elected by the shareholders to sit on the board of directors. Directors have authority to implement corporate policy, and act by voting to pass board resolutions. Directors act as agents...

(Wex page)
Definition

See Piercing the corporate veil

(Wex page)
Definition

A fundamental change of the relations among partners in a partnership, ending a governance-type relation among the partners in the partnership. As part of dissolution, liquidation of the partnership's assets occurs.

See alsoDissolution of...
(Wex page)
Definition

The ending of a corporation, either voluntarily by filing a notice of dissolution with the Secretary of State or as ordered by a court after a vote of the shareholders, or involuntarily through government action as a result of failure to pay...

(Wex page)
Definition

The dispensing of assets to a beneficiary, as named in a trust or will. Also refers to the payment of capital gains from an investment company to shareholders upon the sale of securities or payment of profits from a corporation to its...

(Wex page)
Definition

The dispensing of profits amongst partners of a partnership, members of a Limited Liability Company, or employees in a company, as per terms outlined in a profit-sharing agreement.

See alsoPartnershipLimited Liability Company

Pages