A corporate charter is a flexible document that an incorporator is required to prepare and file with the Secretary of State in the state of incorporation. The corporate charter must name the original incorporations, the corporation’s name and...
llcs-corporations-partnerships
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Corporate opportunity refers to the fiduciary duties of senior executives and directors of corporations to not take business opportunities away from the corporation for their own benefit. The doctrine of corporate opportunity dictates the...
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Corporate raider refers to the practice of obtaining a controlling share of a corporation, then proceeding to sell off that company’s assets or force a merger with another company. The proceeds of any sold assets are subsequently divided...
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Corporate resolution (also known as a board resolution) is a written legal document, issued by the board of directors of a corporation, documenting a binding decision made on behalf of the corporation. The corporate resolution will be adopted...
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A corporate takeover occurs when the controlling interest in a corporation shifts from one party to another. Corporate takeovers are categorized as either hostile or friendly depending on whether the management of the company being taken over...
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A corporation is an entity that acts as a single, fictional person. Much like an actual person, a corporation may sue, be sued, lend, and borrow. Additionally, a company which has been incorporated can easily transfer ownership through stock...
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A covered option occurs when a party offers an options contract while also owning the underlying asset.
A party who sells an option is selling the buyer the right, but not the obligation, to buy or sell an asset at a given...
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Cumulative voting refers to any voting structure where individuals can pool their votes together for certain candidates. For example, if a corporate executive has a single vote for each of seven director seats being voted for, cumulative...
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De facto action is an action taken without strict legal authority to do so, but recognized as legally valid nonetheless. The action is considered something that acquires validity based on the fact of its existence and tradition.
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De facto corporation refers to the legal recognition of a corporation, even if the articles of incorporation for a corporation are not properly filed. In other words, a corporation may be said to have de facto corporate status by...