A professional corporation (abbreviated as PC), also known as a professional service corporation (abbreviated as PSC), is a type of corporation established by state statute that permits owners of certain licensed professions, such as attorneys, architects, engineers, accountants, and dentists, to own shares in a corporation organized to render services in that profession.
A promoter is broadly defined as someone who encourages or incites a certain behavior. In corporate law, a promoter is the founder or organizer of a corporation or business venture; the person who takes the initiative to create or organize a business. The term is mostly used in the context of incorporation. A promoter would perform the conduct required for incorporating the business venture.
Promotional stock is stock issued by a newly formed company to the promoters of the company as compensation for promoting the company, such as raising capital, finding new shareholders, sign
A proxy is a person who represents a member in the shareholders’ meeting of a company, with a legal document that could prove their authority.
A proxy statement is a document that public companies must provide their shareholders prior to a shareholder meeting.
A public benefit corporation is a corporation created to generate social and public good, and to operate in a responsible and sustainable manner.
See public corporation.
[Last reviewed in December of 2021 by the Wex Definitions Team]
A public corporation is a company whose shares are listed to be traded on a public market, such as the New York Stock Exchange (NYSE).
Also known as a "civil corporation," a quasi corporation is an entity that is not incorporated like a general business but nonetheless holds some properties and functions traditionally belonging to corporations.
A quasi-municipal corporation is a government corporation with limited powers. Common examples of quasi-municipal corporations in some states include school districts, boards of education, and public utility districts for water and sanitation.
