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Limited Liability Company
A LIMITED LIABILITY COMPANY (LLC) is the United States-specific form of a private limited company . It is a business structure that combines the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation . An LLC is not a corporation; it is a legal form of a company that provides limited liability to its owners in many jurisdictions. LLCs do not need to be organized for profit. In certain U.S. states (for example, Texas), businesses that provide professional services requiring a state professional license, such as legal or medical services, may not be allowed to form an LLC but may be required to form a similar entity called a PROFESSIONAL LIMITED LIABILITY COMPANY (PLLC)
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LLC (other)
LLC may refer to: TRANSPORT * LLC, LHD Landing Craft, Australian variant of the LCM-1E landing craft * LLC, ICAO airline designator of Small Planet Airlines (formerly FlyLAL Charters) airlineCOMPUTING * Last level cache, shared highest-level CPU cache * Logical link control , in computer networking, a sublayer of the OSI Data Link Layer in the IEEE 802 family of standardsOTHER USES * Landlocked country , nation whose borders do not reach navigable waters on any side * Laurentian Leadership Centre
Laurentian Leadership Centre
, extension of Trinity Western University * Lend Lease Corporation
Lend Lease Corporation
, Australian-based property management and investment company * Limited liability company , a bureau form of business enterprise in the United States * Literary and Linguistic Computing , a peer-reviewed academic journal on digital scholarship in the humanities * Lunar Lander Challenge , program entrepreneurship funded by the U.S
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Limited Company
In a LIMITED COMPANY, the liability of members or subscribers of the company is limited to what they have invested or guaranteed to the company. Limited companies may be limited by shares or by guarantee . The former may be further divided in public companies and private companies. Who may become a member of a private limited company is restricted by law and by the company's rules. In contrast, anyone may buy shares in a public limited company. Limited companies can be found in most countries, although the detailed rules governing them vary widely. It is also common for a distinction to be made between the publicly tradable companies of the plc type (for example, the German Aktiengesellschaft (AG), British PLC , Czech a.s., Italian S.p.A. and the Spanish , French , Polish , Greek and Romanian S.A. ), and the "private" types of company (such as the German GmbH , Portuguese Ltda., British Ltd., Polish sp. z o.o., the Czech s.r.o., the Italian, French, and Romanian s.r.l
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Corporation
A CORPORATION is a company or group of people authorized to act as a single entity (legally a person ) and recognized as such in law. Early incorporated entities were established by charter (i.e. by an _ad hoc_ act granted by a monarch or passed by a parliament or legislature). Most jurisdictions now allow the creation of new corporations through registration . Corporations come in many different types but are usually divided by the law of the jurisdiction where they are chartered into two kinds: by whether they can issue stock or not, or by whether they make profit or not. Where local law distinguishes corporations by ability to issue stock, corporations allowed to do so are referred to as "stock corporations", ownership of the corporation is through stock, and owners of stock are referred to as "stockholders" or "shareholders". Corporations not allowed to issue stock are referred to as "non-stock" corporations; those who are considered the owners of the corporation are those who have obtained membership in the corporation, and are referred to as a "member" of the corporation. Corporations chartered in regions where they are distinguished by whether they are allowed to be for profit or not are referred to as "for profit" and "not-for-profit" corporations, respectively. There is some overlap between stock/non-stock and for profit/not-for-profit in that not-for-profit corporations are always non-stock as well
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Corporate Law
CORPORATE LAW (also known as BUSINESS LAW or ENTERPRISE LAW or COMPANY LAW or TRADE LAW or COMMERCIAL LAW) is the body of law that applies to the rights, relations, and conduct of persons and businesses engaged in commerce , merchandising , trade , and sales. It studies how shareholders , directors , employees , creditors , and other stakeholders such as consumers , the community , and the environment interact with one another. Corporate law
Corporate law
is a part of a broader companies law (or law of business associations). It is often considered to be a branch of civil law and deals with issues of both private law and public law . Other types of business associations can include partnerships (in the UK governed by the Partnership
Partnership
Act 1890), or trusts (like a pension fund), or companies limited by guarantee (like some community organizations or charities). Under corporate law, corporations of all sizes have separate legal personality , with limited or unlimited liability for its shareholders. Shareholders
Shareholders
control the company through a board of directors which, in turn, typically delegates control of the corporation's day-to-day operations to a full-time executive . Corporate law
Corporate law
deals with firms that are incorporated or registered under the corporate or company law of a sovereign state or their subnational states
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Anguillan Company Law
ANGUILLAN COMPANY LAW is primarily codified in three principal statutes : * the International Business Companies Act (Cap I.20); * the Companies Act (Cap C.65); and * the Limited Liability Companies Act (Cap L.65).The Companies Act is generally reserved for companies which engaged in business physically in Anguilla , and companies formed under it are generally referred to as either "CACs" (an acronym for Companies Act Companies) or "ABCs" (an acronym for Anguillan Business Company). The other two statutes relate to the incorporation of non-resident companies as part of the Territory's financial services industry . Companies incorporated under International Business Companies Act are called International Business Companies (or, more usually, "IBCs"). IBCs represent the largest number of companies in Anguilla. Companies incorporated under Limited Liability Companies Act are called Limited Liability Companies , and are also commonly referred to by their three-letter acronym , "LLCs". CONTENTS * 1 Registering a company * 2 Corporate personality * 3 Corporate constitution * 4 Corporate governance * 5 Shares, equity interests and members * 6 Debt finance * 7 Reorganisation and restructuring * 8 Insolvency * 9 Financial services regulation * 10 See also * 11 External links * 12 Footnotes REGISTERING A COMPANYIn practice, all companies formed in Anguilla are ordinarily incorporated by a trust company
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Australian Corporate Law
AUSTRALIAN CORPORATIONS LAW has historically borrowed heavily from UK company law . Its legal structure now consists of a single, national statute , the Corporations Act 2001. The statute is administered by a single national regulatory authority, the Australian Securities and Investments Commission . The two federal statutes are the Corporations Act 2001 and Australian Securities and Investments Commission Act 2001 . The corporations legislation is administered by the Australian Securities and Investments Commission ("ASIC"), which reports to the Treasurer . Since provisions in the Act can frequently be traced back to some pioneer legislation in the United Kingdom , reference is frequently made to judgments of courts there. CONTENTS * 1 History * 2 Company formation * 3 Corporate governance * 3.1 Company constitution * 3.2 Shareholder rights * 3.3 Directors\' duties * 3.4 Shareholder litigation * 3.5 Takeovers * 4 See also * 5 References * 6 Bibliography * 7 External links HISTORY See also: History of companies and UK company law On the settlement of Australia by British colonists in 1788 the power in relation to corporations was controlled by the United Kingdom. As colonies gained more independence, and their own parliaments, the power to control corporations passed to these parliaments
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British Virgin Islands Company Law
BRITISH VIRGIN ISLANDS COMPANY LAW is primarily codified in the BVI Business Companies Act, 2004 , and to a lesser extent by the Insolvency Act, 2003 and the Securities and Investment Business Act, 2010. The British Virgin Islands has approximately 30 registered companies per head of population, which is probably the highest ratio of any country in the world. Annual company registration fees provide a significant part of Government revenue in the British Virgin Islands, which accounts for the comparative lack of other taxation . Accordingly, company law forms a much more prominent part of the law of the British Virgin Islands than might otherwise be expected. CONTENTS * 1 History * 2 Registering a company * 3 Corporate personality * 4 Corporate constitution * 5 Corporate governance * 6 Shares and shareholders * 7 Debt finance * 8 Reorganisation and restructuring * 9 Insolvency * 10 Financial services regulation * 11 See also * 12 External links * 13 Footnotes HISTORYThe first companies legislation in the British Virgin Islands was the Companies Act, 1884. However the great leap forward for company law in the jurisdiction occurred in 1984 with the passing of the International Business Companies Act, 1984
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Canadian Corporate Law
CANADIAN COMPANY LAW concerns the operation of corporations in Canada , which can be established under either federal or provincial authority. Federal incorporation of for-profit corporations is governed by Corporations Canada under the _ Canada Business Corporations Act _. All of the Canadian provinces and territories also have laws permitting (and governing) the incorporation of corporations within their area of jurisdiction. Often, the choice of whether to incorporate federally or provincially will be based on many business considerations, such as scope of business and the desire for application of particular rules which may be available under one corporate statute but not another
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Cayman Islands Company Law
CAYMAN ISLANDS COMPANY LAW is primarily codified in the Companies Law (2013 Revision), and to a lesser extent in the Securities and Investment Business Law (2015 Revision). The Cayman Islands is a leading Offshore Financial Centre , and financial services forms a significant part of the economy of the Cayman Islands . Accordingly company law forms a much more prominent part of the law of the Cayman Islands than might otherwise be expected. CONTENTS * 1 Types of company * 2 Registering a company * 3 Corporate personality * 4 Corporate constitution * 5 Corporate governance * 6 Shares and shareholders * 7 Debt finance * 8 Reorganisation and restructuring * 9 Insolvency * 10 Financial services regulation * 11 See also * 12 External links * 13 Footnotes TYPES OF COMPANYThere are broadly two types of company in the Cayman Islands. The first, and more prevalent, are companies formed under the Companies Law (2013 Revision). Such companies may be formed as ordinary resident companies, ordinary non-resident companies, exempted companies, exempted limited duration companies (LDC) or special economic zone companies (SEZ). The second is limited liability companies (or LLCs) formed under the Limited Liability Companies Law, 2016. LLCs are a form of hybrid between companies and partnerships
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Indian Company Law
INDIAN COMPANY LAW regulates the corporations formed under the Indian Companies Act 2013 . CONTENTS * 1 History * 2 Incorporation * 3 Types of companies * 4 Corporate governance * 4.1 Company constitutions * 4.2 Governance of the board * 4.3 Employee rights * 4.4 Directors\' duties * 4.5 Corporate social responsibility * 5 Enforcement * 6 See also * 7 Notes * 8 References * 9 External links HISTORY Further information: History of company law * Company rule in India * Societies Registration Act 1860 * The Indian Partnership Act, 1932 * Companies Act 1956 * The Companies Amendment Act, 2006 * The Limited liability Partnership Act, 2008 INCORPORATIONCompanies can be incorporated through the rules of the Indian Companies Act 2013 . Whereby the new SPICe form helps the companies to get incorporated in one day. However, one day company registration in India is not possible as there required certain documents, preparation of which takes time. _ THIS SECTION NEEDS EXPANSION. You can help by adding to it . (May 2014)_TYPES OF COMPANIES * Sole Proprietorship - A sole proprietorship, also known as a trader firm or proprietorship, is a business form that is owned and run by one individual
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South African Company Law
SOUTH AFRICAN COMPANY LAW is that body of rules which regulates corporations formed under the Companies Act. A company is a business organisation which earns income by the production or sale of goods or services. This entry also covers rules by which partnerships and trusts are governed in South Africa, together with (albeit in less detail) cooperatives and sole proprietorships
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Corporate Law In The United States
UNITED STATES CORPORATE LAW regulates the governance , finance and power of corporations in US law . Every state and territory has its own basic corporate code, while federal law creates minimum standards for trade in company shares and governance rights, found mostly in the Securities Act of 1933 and the Securities and Exchange Act of 1934 , as amended by laws like the Sarbanes-Oxley Act of 2002 and the Dodd-Frank Act of 2010 . The US Constitution was interpreted by the US Supreme Court to allow corporations to incorporate in the state of their choice, regardless of where their headquarters are. Over the 20th century, most major corporations incorporated under the Delaware General Corporation Law , which offered lower corporate taxes, fewer shareholder rights against directors, and developed a specialized court and legal profession. Nevada has done the same. Twenty-four states follow the Model Business Corporation Act , while New York and California are important due to their size
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Corporate Law In Vietnam
CORPORATE LAW IN VIETNAM was originally based on the French commercial law system. However, since Vietnam's independence in 1945, it has largely been influenced by the ruling Communist Party . Currently, the main sources of Corporate Law are the Law on Enterprises, the Law on Securities and the Law on Investment
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European Corporate Law
EUROPEAN CORPORATE LAW is a part of European Union law , which concerns the formation, operation and insolvency of corporations in the European Union . There is no substantive European company law as such, although a host of minimum standards are applicable to companies throughout the European Union. All member states continue to operate separate companies acts, which are amended from time to time to comply with EU Directives and Regulations. There is, however, also the option of businesses to incorporate as a _ Societas Europaea _ (SE), which allows a company to operate across all member states. CONTENTS * 1 History * 2 Types * 3 European treaties * 4 Harmonised fields of national law * 4.1 Formations and civil law * 4.2 Corporate governance * 4.3 Capital maintenance * 4.4 Mergers and acquisitions * 4.5 Accounting and audit * 4.6 Market regulation * 5 See also * 6 Notes * 7 References * 8 External links HISTORY Main articles: History of company law and History of the European Union There have been, since the European Community was founded in 1957, a series of directives creating minimum standards for business across the European Union. A central aim restated in each Directive is to reduce the barriers to freedom of establishment of businesses in the European Union through a process of harmonising the basic laws
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French Company Law
FRENCH COMPANY LAW is the law governing corporations incorporated in France or under French corporate law. CONTENTS * 1 History * 2 Overview * 3 See also * 4 Notes * 5 References * 6 External links HISTORYIn the wake of the French Revolution in 1791, the right to free registration for all private companies was proclaimed. There was a boom in registrations, but this was followed by a bust in 1793. The law was reversed until 1796 when the principle of free incorporation was established again. The law was consolidated in Napoleon's _Code de commerce _ of 1807 using a concession system. While previously public companies with special privileges were created by a special act of the state, the _Code_ allowed the companies to be formed according to general company law rules. Specific state permission was still required. Article 33 recognised limited liability for members. The _Code de commerce_ was applicable outside France in Baden and the Prussian Rhine province, and it came to serve as a model for all later European public company statutes. The first German public company statute was the Prussian Act of 1843, five years after the Prussian Act on railway enterprises of 1838. Under the _Loi sur les Sociétés _ of 1867 France adopted a system for free registration of companies. OVERVIEW * Code de Commerce _ THIS SECTION NEEDS EXPANSION
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