by Primary | Jun 30, 2020
Sometimes, courts allow injured or aggrieved plaintiffs to receive compensation from corporate officers, directors, or shareholders for damages rather than limiting their recovery to corporate resources. This procedure avoids the usual corporate immunity for...
by Primary | Jun 30, 2020
Personal liability can devastate the accumulated wealth of a lifetime of work. This form of liability opens the individual to claims for a wide range of business obligations. Most people realize that personal liability may extend to business losses, but other...
by Primary | Jun 30, 2020
Once incorporators establish a new business, the named directors must ensure that it maintains its legal status. Depending on the business form, certain legal formalities must be followed for this purpose. Once incorporated, an ongoing business’s obligations...
by Primary | Jun 30, 2020
The Internal Revenue Code allows for two different levels of corporate tax treatment. Subchapter C corporations include most large, publicly-held businesses. These corporations face double taxation on their profits if they pay dividends: C corporations file their own...
by Primary | Jun 30, 2020
A business owner must be aware of the primary business organization forms, their characteristics, and the law that governs their management and formation. A Sole Proprietorship is created when an owner simply begins business under his own name. It is simple and cheap...
