In a corporation, a director is a person, appointed or elected by the shareholders to sit on the board of directors. Directors have the authority to implement corporate policy, and act by voting to pass board resolutions. Directors act as...
corporations
disregarding the corporate entity
Disregarding the corporate entity is also known as the “alter ego doctrine” or “piercing the corporate veil.” Generally, shareholders of a corporation are protected from being held personally liable for the corporation. If, however, the court...
dissolution of corporation
Dissolution of corporation refers to the closing of a corporate entity which can be a complex process. Ending a corporation becomes more complex with more owners and more assets. For every corporation, the starting point for ending the...
distribution of profits
In the context of business law, distribution of profits is the dispensing of the profits amongst partners of partnership, members of a Limited Liability Company, or employees in a company, as per the terms outlined in a profit-sharing...
divestiture
Divestiture is the partial or full disposal of an asset by a company or government entity through sale, exchange, closure, or bankruptcy. Divestiture can either be voluntary or court ordered. Examples of divestitures include selling...
divestment
In business law, divestment is when a business sells off its subsidiaries, investments, or other assets for a financial, ethical, or political objective. To do so, the business must partially or fully remove the asset from its financial...
dividend
Dividends are the payment of a corporation's profits to its shareholders. Payment of dividends are not mandatory; rather, the board of directors may use its discretion to decide whether to invest the company's profits back into the company...
domestic corporation
A domestic corporation is a corporation that does business in the jurisdiction in which it is incorporated. This can be compared to a Foreign Corporation which conducts business in a jurisdiction other than its place of incorporation. The...
double taxation
Double taxation refers to the imposition of taxes on the same income, assets or financial transaction at two different points of time.
Double taxation can be economic, which refers to the taxing of shareholder dividends...
dump-buyback
Dump buyback (also called asset dump and buyback) is an ethically questionable method of getting around business debt. Business owners who are struggling with debt will “dump” the assets of the business by selling them to a friend at a...