A trust formed when individual shareholders transfer both the legal title and voting rights in their shares to a trustee. The trustee then controls a unified voting block - with a stronger voice on matters of corporate governance than the individual...
business organizations
waive
To “waive” is to forego something. It is an act of voluntarily giving up a right, and can apply to a variety of legal situations including knowingly giving up a legal right such as a speedy trial, a jury trial, giving up some rights in a...
watered stock
Watered stock refers to any stock issued by a corporation to someone in exchange for assets that under-compensate for the stock. The issue was a larger problem in the early 20th century when investors depended on the par value of stocks which...
winding up
The settlement of debts and liquidation of assets, done with the goal of dissolving a partnership or corporation.
See: dissolution of corporation.
winding up a corporation
The process of dissolving a corporation or settling the affairs of a dissolved corporation. Winding up a corporation generally takes place when a corporation decides to end a business or declares bankruptcy. Winding up involves the settling...
withdrawal of a corporation
Withdrawal of a corporation, also referred to as dissolution of a corporation, is the termination of a corporate entity. The procedure could be conducted voluntarily or involuntarily. Ending a corporation becomes more complex with more owners...