Apple Incorporation



Apple Incorporation

Introduction

The company which has been selected in this study to fulfill the ultimate goal of session long project is Apple Incorporation. Apple Inc. is an American Multinational Corporation that is renowned for its unique designs and development of hardware and software products that include Mac line of computers, iPod, iPad, iPhone, iMac, OS X, iOS operating systems, iTunes, Safari, iLife, and iWork. The company was founded in 1976, headquartered in California, USA.

The company has gone into numerous contracts with other electronic companies and it has recently gone into the merger with AuthenTec Incorporation for about $350 million and deployed $117.2 billion cash hoard to obtain the new encryption security technology of finger print authentication for its products iPad and iPhone (Satariano, 2012).

The study aims at highlighting the description of contract between the two corporations and formulation of various new laws under the agreement.

Discussion

The merger was undertaken in July26th, 2012 where Apple Incorporation entered into the agreement of merger plan with AuthenTech Incorporation. According to the agreement that the both of the companies have determined this merger in their best interest and its stakeholders and agreed to execute the merger while recommending acceptance and approval of this agreement by their stockholders.

Both of the companies legally agree to bind in the merger according to the Article II of merger and acquisition and other related articles of the corporation law (Black et al.. 2012). The main considerations and clauses of these articles are described as following:

Section 2.1: The Merger

Merger will be done as according to the terms and conditions of the agreement in concordance with general business merger and acquisition laws at the effective time. However, the existence of separate entity will be ceased and the company will be termed as existing or surviving corporation.

Section 2.2: The Closing

The merger ...