business organizations

Holding Company

A holding company is a company that owns part, a majority, or all of another company’s stock with the sole purpose of owning other companies’ stock. A company is a personal holding company for the purposes of Section 542 of the Internal Revenue Code...

Horizontal Scheme

A cooperation agreement between competitors on the same level of commerce. A horizontal scheme violates antitrust law if it involves price-fixing or any other recognized restraint on trade.

See Antitrust Law


The legal process of creating a corporation. Typically, this involves one or more incorporators filing the Articles of Incorporation with the Secretary of State in which incorporation is desired and paying required fees.

See also:

Articles of...


1. Formed into a legal corporation. Both private and public entities may become incorporated. See Corporation, Municipality, Artificial person, and Natural person.

2. Combined or mixed in with something else. Thus, in constitutional law, an...


Any individual who files the articles of incorporation on behalf of a business, thereby incorporating the business.

See also

IncorporateArticles of Incorporation



The purchase of a financial instrument or asset in the hopes of it producing income for the purchaser through profit or generating more business in the future.

See alsoProfitInstrument

Jingle Rule

Under common law, in determining the extent to which partnership creditors whose debts are not fully satisfied by partnership property can assert claims to the assets of individual partners, the Jingle Rule gave partnership creditors priority in all...


Held in common by two or more persons or things. Some regular uses of the term “joint” in a legal sense include:

“Joint custody” is an arrangement in which both parents possess either legal custody or physical custody of a...

Joint venture

joint ventures: an overview

A joint venture is a legal organization that takes the form of a short term partnership in which the persons jointly undertake a transaction for mutual profit. Generally each person contributes assets and share risks. Like a...



See: Low-profit limited liability company l3c.