Corporation Law - Case Studies

Corporation Law - Case Studies

Introduction

Corporation law

A corporation is a business organization. The development of the corporation shapes the linkage and association between the people who are concerned in the development of corporations. There are three types of the formation of corporations. These types consist of sole proprietorship, partnership and the limited liability. In sole proprietorship the single sole individual controls and manages the corporation and no-one else expect him/her is legally responsible for all the liabilities of the corporation. However, in partnership type business, a number of individual personalities run and control the corporation and they all are legally responsible to the legal liability of the corporation on the basis of their collective gains of the corporation. In partnership business, there is the alliance amongst the persons who provide some form of capital funding for the operation of the businesses. In limited liability the group of individuals is liable to the liabilities according to their shared capital in the business for the purpose of formation and for the operations of the company.

In all the types of the companies and corporations, all the group of persons has the general reason and the reason is to increase the income and to increase the profit maximization capability and to maximize the share capital of the corporation in the market.

The corporation act has been build up nearly in all the countries of the world to support the persons in establishing their businesses with the lawful rights and accomplishment of laws. The company law or corporate law includes the abundant law acts that are relevant to the numerous issues that occur in the companies. These laws entail the acts that involve the varieties from the organization of the company to the dissolving and closing of the business entity. All of the corporation laws have been established in order to make clear that the combination of connected and inked groups of persons or the particular solo person can run the business according the law and to ensure the avoidance of issues that may arise in the businesses. The corporation itself is believed as a lawful entity for the reason that the corporation given name is raised because of the holding and imagination of it on behalf of the lawful individual under the corporation act 2001 regulation. For that cause, the corporations have also definite rights and responsibilities that are elucidated under the company act or the corporate act 2001.

The Corporate Act 2001 of Australia provides the basis of regulations for the purpose of corporate regulations and corporate governance that presents the legislations and commandments for managing and dealing with the lawful issues and lawful matters of the corporations. The governmental laws and regulations are being developed based on the types of the businesses. For every kind of the corporation the lawful regulations and legislations are offered for the development of the corporation and to regulate the standing, carrying out of business, and corporate governance of individual businesses as legal and lawful ...