BUSI 3705U Chapter Notes - Chapter 15: Occupational Safety And Health, Oppression Remedy, Consumer Protection
Document Summary
Predominant business vehicle in modern commerce because it is a separate legal identity. The corporation alone is responsible for its own debts and other liabilities. Should the corporation fail to make good on its obligations, the shareholders are not responsible. Stakeholder one who has an interest in the corporation. Issues to consider: whether to incorporate federally or provincially, what types of shares will be available and to whom, what to name the corporation. Share structure: a share represents an ownership interest in the issuing corporation, classes of shares may include a combination of various rights and privileges financial rights. Provincial and federal incorporation federally incorporated corporations have a right to carry on business in each province: provincially incorporated corporations have the right to carry on business only in the province in which they are incorporated. Widely held corporation- shares are normally traded on the stock exchange (available to the general public)
