Topic

Characteristics of a Corporation

Instructions

Write a main post (200 words).

Read pages 351-353, 366, and 368 of Legal Environment of Business.

Considerthe following as you read:

Think about the characteristics of corporate formation and the protection it affords corporate leadership.
Consider the rationale behind the Sarbanes-Oxley Act and why such an act is needed.

Answer preview

A corporation is a firm or a group of individuals authorized to act as a single entity and recognized as such in legislation. Notably, there are many different types of corporations, but they are normally separated by the jurisdiction legislation in which they are chartered into two types. The local legislation differentiates corporations by the capability to issue stock. The corporations that are permitted to do so are termed as stock corporations.

Word count: 229