Corporation — definition?
A legally recognized separate entity with rights and liabilities.
Business Entity Types — example?
Sole proprietorship, partnership, corporation, LLC, non-profit.
Corporate Personhood — role?
Grants corporations legal rights similar to individuals.
Corporation — definition?
Legally recognized separate entity with limited liability.
Limited Liability — purpose?
Limits owners' liability to their investment.
Corporate Personhood — role?
Gives corporations rights/responsibilities like individuals.
Shareholders — rights?
Own shares, vote on major decisions.
Board of Directors — responsibility?
Oversight and strategic decision-making.
Corporate Governance — purpose?
Ensure accountability and transparency.
Business Entity Types — main?
Sole proprietorship, partnership, corporation.
Answer 10 questions on Introduction to Corporate Law.
1. What does 'corporate personhood' mean in the context of corporate law?
2. Which of the following best describes a sole proprietorship?
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