Management and Organizational Studies 2275A/B Lecture Notes - Legal Personality, Letters Patent, Fiduciary

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

Document Summary

The process of incorporation: can be incorporated provincially or federally. If only incorporated provincially, can only do business within the corporation: registration of a company practice adopted from britain. Used in nova scotia: letters patent royal charter approach. Used in quebec and p. e. i: articles of incorporation adopted from us. Filing of articles of incorporation and grating of certificate. Used in rest of canada and federally. Has features of both registration and letters patent systems. Articles of incorporation contain constitution, purpose, bylaws controlling day-today operation. Government body has no discretion to refuse request: other incorporated bodies. Incorporation creates a distinct legal entity, separate from the people who own and control it. Provides flexibility for investors to buy and sell shares. Agents are the ones that carry out tasks for corporations: courts may lift corporate veil to get at managers who commit crimes or avoid regulations, vicarious liability for agents and employees.