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or more individuals agree to domicile together. +artnerships
between
governments, interest*based organi-ations, schools, businesses,
and
individuals, or some combination thereof, have always been and
remain
commonplace.
+artnerships have widely varying results and can present
partners with
special challenges. /evels of give*and*take, areas of
responsibility, lines of
authority, and overarching goals of the partnership must all be
negotiated.
0hile partnerships stand to amplify mutual interests and
success, some are
considered ethically problematic, or at least debatable. 0hen a
politician, for
example, partners with a corporation to advance the
corporation"s interest in
exchange for some benet, a con1ict of interestmay make the
partnership
problematic from the standpoint of the public good. 2eveloped
countries
often strongly regulate certain partnerships via anti*trustlaws,
so as toinhibit monopolistic practices and foster free market
competition.
Among developed countries, business partnerships are often
favored
over corporationsin taxation policy, since dividend taxesonly
occur on
prots before they are distributed to the partners. 3owever,
depending on
the partnership structure and thejurisdictionin which it
operates, owners of
a partnership may be exposed to greater personal liability than
they would
as shareholdersof a corporation.
Corporation
A corporation is a formal business association with a
publicly
registered charterrecogni-ing it as a separate legal
entityhaving its own
privileges, and liabilities distinct from those of its members.
There are many
di4erent forms of corporations, most of which are used to
conduct business.
5orporations exist as a product of corporate law, and their
rules balance the
interests of the managementwho operate the
corporation, creditors, shareholders, and employees who
contribute
theirlabour.
An important (but not universal feature of a corporation is
limited liability. #f
a corporation fails, shareholders normally only stand to lose
their investment,
and employees will lose their jobs, but neither will be further
liable for debts
that remain owing to the corporation"s creditors.
http://en.wikipedia.org/wiki/Conflict_of_interesthttp://en.wikipedia.org/wiki/Anti-trusthttp://en.wikipedia.org/wiki/Corporationhttp://en.wikipedia.org/wiki/Dividend_taxhttp://en.wikipedia.org/wiki/Jurisdictionhttp://en.wikipedia.org/wiki/Shareholderhttp://en.wikipedia.org/wiki/Charterhttp://en.wikipedia.org/wiki/Separate_legal_entityhttp://en.wikipedia.org/wiki/Businesshttp://en.wikipedia.org/wiki/Corporate_lawhttp://en.wikipedia.org/wiki/Managementhttp://en.wikipedia.org/wiki/Creditorhttp://en.wikipedia.org/wiki/Shareholderhttp://en.wikipedia.org/wiki/Labour_(economics)http://en.wikipedia.org/wiki/Limited_liabilityhttp://en.wikipedia.org/wiki/Conflict_of_interesthttp://en.wikipedia.org/wiki/Anti-trusthttp://en.wikipedia.org/wiki/Corporationhttp://en.wikipedia.org/wiki/Dividend_taxhttp://en.wikipedia.org/wiki/Jurisdictionhttp://en.wikipedia.org/wiki/Shareholderhttp://en.wikipedia.org/wiki/Charterhttp://en.wikipedia.org/wiki/Separate_legal_entityhttp://en.wikipedia.org/wiki/Businesshttp://en.wikipedia.org/wiki/Corporate_lawhttp://en.wikipedia.org/wiki/Managementhttp://en.wikipedia.org/wiki/Creditorhttp://en.wikipedia.org/wiki/Shareholderhttp://en.wikipedia.org/wiki/Labour_(economics)http://en.wikipedia.org/wiki/Limited_liability
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2espite not being natural persons, corporations are recogni-ed
by the law to
have rights and responsibilities like natural persons ($people$.
5orporations
can exercise human rightsagainst real individuals and the state,
and they
are often responsible for human rights violations. 6ust as they
are $born$ into
existence through its members obtaining a certicate of
incorporation, they
can $die$ when they are $dissolved$ either by statutory
operation, order of
court, or voluntary action on the part of shareholders.
#nsolvencymay result
in a form of corporate "death", when creditors force the
li'uidation and
dissolution of the corporation under court order, but it most
often results in a
restructuring of corporate holdings. 5orporations can even be
convicted of
criminal o4enses, such as fraudand manslaughter.
Brief background of the Shareholder
http://en.wikipedia.org/wiki/Human_rightshttp://en.wikipedia.org/wiki/Certificate_of_incorporationhttp://en.wikipedia.org/wiki/Insolvencyhttp://en.wikipedia.org/wiki/Fraudhttp://en.wikipedia.org/wiki/Manslaughterhttp://en.wikipedia.org/wiki/Human_rightshttp://en.wikipedia.org/wiki/Certificate_of_incorporationhttp://en.wikipedia.org/wiki/Insolvencyhttp://en.wikipedia.org/wiki/Fraudhttp://en.wikipedia.org/wiki/Manslaughter
