To incorporate (incorporation) is the legal process of creating an entity or corporation. It is required to draft and file the Articles of Incorporation (also referred as corporate charter) with the Secretary of State, as well as enumerate...
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Incorporation is the legal process of incorporating a business. For incorporation, the shareholders have to file an application along with Articles of Incorporation before the relevant Secretary of State office.
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Incorporator is the individual who files the Articles of Incorporation on behalf of a business, thereby incorporating the business with the relevant state. An incorporator takes care of all the paperwork required for incorporating a business...
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Inter se is a Latin phrase meaning "between or amongst themselves.” It describes the rights and obligations that arise only within a particular group or between individuals, who, in a specific set of circumstances, have similar legal status....
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An investment is the purchase of a financial instrument (such as stocks, bonds and bank products) or an asset with the purpose of producing income for the purchaser through profit or generating more business in the future.
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A junior lien is a security interest on a property that is subordinate to another security interest. The prioritized security interest is called a senior lien and paid back in full prior to payment of the junior lien. If the debtor becomes...
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Low-profit limited liability companies (L3C) are business entities created mainly for charitable reasons, allowed in eight states and Puerto Rico. The entities are required to register with the appropriate state agencies and pursue their...
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A party is liable when they are held legally responsible for something. Unlike in criminal cases, where a defendant could be found guilty, a defendant in a civil case risks only liability.
A party can be held liable based...
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To be liable in a legal sense simply means to be held legally responsible or obligated. For example, a defendant in a civil torts case may be liable to pay damages to the plaintiff if the court rules in favor of the plaintiff.
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Limited liability is a business law principle that shields individual shareholders from liability for debts owed by a business entity to the extent of the shareholder’s investment in the entity. As a result, an investor’s personal property is...