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Societas Privata Europaea
A European Private Company
Company
(Latin: societas privata Europaea, SPE) is a legal form for a limited liability company that is being proposed by the European Commission
European Commission
to be introduced across the European Union. It forms a company of limited liability, similar to the English limited company, the Austrian or the German GmbH, the Dutch BV, the Belgian BVBA
BVBA
or the French SARL
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United Kingdom Company Law
The United Kingdom
United Kingdom
company law regulates corporations formed under the Companies Act 2006. Also governed by the Insolvency Act 1986, the UK Corporate Governance Code, European Union
European Union
Directives and court cases, the company is the primary legal vehicle to organise and run business. Tracing their modern history to the late Industrial Revolution, public companies now employ more people and generate more of wealth in the United Kingdom
United Kingdom
economy than any other form of organisation
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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);[1] 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)
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British Virgin Islands Company Law
British Virgin Islands
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
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
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Cayman Islands Company Law
Cayman Islands
Cayman Islands
company law is primarily codified in the Companies Law (2016 Revision) and the Limited Liability Companies Law, 2016,[1] and to a lesser extent in the Securities and Investment Business Law (2015 Revision). The Cayman Islands
Cayman Islands
is a leading Offshore Financial Centre, and financial services forms a significant part of the economy of the Cayman Islands
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Corporate Law In The United States
United States corporate law
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
Securities Act of 1933
and the Securities and Exchange Act
Securities and Exchange Act
of 1934, as amended by laws like the Sarbanes-Oxley Act of 2002
Sarbanes-Oxley Act of 2002
and the Dodd-Frank Act of 2010. The US Constitution
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
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Holding Company
A holding company is a company that owns other companies' outstanding stock. A holding company usually does not produce goods or services itself; rather, its purpose is to own shares of other companies to form a corporate group. Holding companies allow the reduction of risk for the owners and can allow the ownership and control of a number of different companies. In the United States, 80% of stock, in voting and value, must be owned before tax consolidation benefits such as tax-free dividends can be claimed.[1] That is, if Company A owns 80% or more of the stock of Company B, Company A will not pay taxes on dividends paid by Company B to its stockholders, as the payment of dividends from B to A is essentially transferring cash from one company to the other
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Benefit Corporation
In the United States, a benefit corporation is a type of for-profit corporate entity, authorized by 33 U.S. states and the District of Columbia[1] that includes positive impact on society, workers, the community and the environment in addition to profit as its legally defined goals. Benefit corporations differ from traditional C corporations in purpose, accountability, and transparency, but not in taxation. In 2015, Italy became the first country in the world to legally recognize benefit corporations across its entire territory. Australia is in the process of drafting their own similar version as of February 2016. The purpose of a benefit corporation is to create general public benefit, which is defined as a material positive impact on society and the environment, i.e. maximum positive externalities and minimum negative
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Industrial And Provident Society
An industrial and provident society (IPS) was a legal entity for a trading business or voluntary organisation in the United Kingdom, the Republic of Ireland, and New Zealand. The name is still used in New Zealand,[1] the Republic of Ireland[2] and within the UK in Northern Ireland.[3] Recent legal developments in Great Britain
Great Britain
include the Co-operative and Community Benefit Societies Act 2014, which has renamed these societies as co-operative or community benefit societies. From 1 August 2014 a new society has had to register as either a co-operative or a community benefit society rather than, as was the case previously, a society that meets either requirement
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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
Aktiengesellschaft
(AG), British PLC, Czech a.s., Italian S.p.A., Hungarian Zrt. 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
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Private Company Limited By Guarantee
In British and Irish company law, a company limited by guarantee (LBG) is an alternative type of corporation used primarily for non-profit organisations that require legal personality. A company limited by guarantee does not usually have a share capital or shareholders, but instead has members who act as guarantors. The guarantors give an undertaking to contribute a nominal amount (typically very small) in the event of the winding up of the company.[1] A company limited by guarantee can distribute its profits to its members, if allowed to by its articles of association,[2] but then it would not be eligible for charitable status. Limited companies can convert to a community interest company (CIC) which feature an asset lock which prevents the extraction of profits. Like a private company limited by shares, a company limited by guarantee must include the suffix "Limited" in its name, except in circumstances specifically excluded by law
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Private Company Limited By Shares
A private company limited by shares is a class of private limited company incorporated under the laws of England and Wales, Scotland, certain Commonwealth countries, and the Republic of Ireland. It has shareholders with limited liability and its shares may not be offered to the general public, unlike those of a public limited company (plc). "Limited by shares" means that the liability of the shareholders to creditors of the company is limited to the capital originally invested, i.e. the nominal value of the shares and any premium paid in return for the issue of the shares by the company. A shareholder's personal assets are thus protected in the event of the company's insolvency, but any money invested in the company may be lost. A limited company may be "private" or "public". A private limited company's disclosure requirements are lighter, but its shares may not be offered to the general public and therefore cannot be traded on a public stock exchange
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Proprietary Company
A proprietary company is a form of privately held company in Australia and South Africa
South Africa
that is either limited or unlimited. However, unlike a public company there are, depending on jurisdiction, restrictions on what it can and cannot do. In Australia, a proprietary company is defined under section 45A(1) of the Corporations Act 2001
Corporations Act 2001
(Cth).[1] The Act puts certain restrictions on proprietary companies such as not permitting them to have more than 50 members (shareholders). Another important restriction relates to fundraising. A proprietary company must not engage in fundraising that would require a disclosure document such as a prospectus, an offer information statement, or a profile statement to be issued (sec.113(3)). The Act states in which circumstances a company must issue a prospectus when attempting to raise funds
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Public Limited Company
A public limited company (legally abbreviated to plc) is a type of public company under the United Kingdom
United Kingdom
company law, some Commonwealth jurisdictions, and the Republic of Ireland. It is a limited liability company whose shares may be freely sold and traded to the public (although a plc may also be privately held, often by another plc), with a minimum share capital of £50,000 and usually with the letters PLC after its name.[1] Similar companies in the United States are called publicly traded companies. Public limited companies will also have a separate legal identity. A PLC can be either an unlisted or listed company on the stock exchanges. In the United Kingdom, a public limited company usually must include the words "public limited company" or the abbreviation "PLC" or "plc" at the end and as part of the legal company name
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Unlimited Company
An unlimited company or private unlimited company is a hybrid company (corporation) incorporated with or without a share capital (and similar to its limited company counterpart) but where the legal liability of the members or shareholders is not limited: that is, its members or shareholders have a joint, several and non-limited obligation to meet any insufficiency in the assets of the company to enable settlement of any outstanding financial liability in the event of the company's formal liquidation.Contents1 Characteristics 2 Notable unlimited company examples2.1 United Kingdom 2.2 Republic of Ireland 2.3 Other regions3 ReferencesCharacteristics[edit] The joint, several and non-limited liability of the members or shareholders of such unlimited company to meet any insufficiency in the assets of the company (to settle its outstanding liabilities if any exist) applies only upon the formal liquidation of the company. Therefore, prior to any such formal l
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Corporate Law
Corporate law
Corporate law
(also known as business law or enterprise law or company law) is the body of law that applies to the rights, relations, and conduct of persons, companies, organizations and businesses. It regulates how corporations, investors, 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. The most prominent kind of company, usually referred to as a "corporation", is a "juristic person", i.e
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