Management and Organizational Studies 2275A/B Lecture Notes - Lecture 2: Legal Personality, Authorised Capital, Canadian Business

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2275A/B
• Professor: Philip King

Document Summary

Chapter 15 the corporate form: organizational matters. Corporation definition: separate legal entity, for legal purposes, a corporation is a person, corporation alone is responsible for its own debts and other liabilities, the creditor must decide who they"re doing business with and take the consequences. Types of corporations: charitable corporations tax concept, business corporations, not-for-profit corporations, crown corporations, hospitals, universities, cities. If the forms are in order, a birth certificate is issued (certificate of incorporation: provincial incorporation has its own legislation and requirements and procedures under the canadian. Shareholder rights: have no right to sue directors, have no right to dividends, have no right to be paid, do own the corporation, right to vote (on the director, right to financial information. Corporate form of business organization: advantages, limited liability, perpetual existence, ability to raise capital, succession/transfer, formality (maybe) Income tax (maybe: disadvantages, cost, complexity, formality. Chapter 16 the corporate form: organizational matters.