Questions tagged [corporate-law]

The body of law about corporations, including mergers, acquisitions, corporate governance, corporate liability, finance, and bankruptcy. The fact that a question involves a corporation does not make it a corporate law question.

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7
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5answers
281 views

Can a company officially decide to break the law since the penalty for breaking it is cheaper than following it?

For example imagine a company in Washington that needs a temporary building for its workers to live in during the summer. Instead of bothering with permits, they rapidly construct a dormitory for ...
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2answers
67 views

Are most major lawsuits against corporations filed in federal courts in the U.S.?

My impression is that this is true, but I am not sure. By "major", I meant lawsuits that potentially lead to large sums in damages. If you have any hard statistics to share, please do!
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20 views

Do elected attorney generals sue companies more frequently when re-elections are upcoming? [migrated]

I get the sense that this is true from anecdotal examples, as attorney generals (especially those with higher political ambitions) try to win future votes by being “tough on corporations”. But I don’t ...
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1answer
26 views

Geographical Protections

For a small Non-profit business, if you want to include a Geographical Region as part of your business name, then is it a Legally Enforceable requirement that the business has ties to the region (e.g. ...
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2answers
155 views

Are companies at sexual discrimination risk for using whiteboard interviews during the job interview?

Background Currently, many companies hiring software development engineers use a whiteboard algorithms interview technique. This involves asking the job candidate to code a solution to an algorithm ...
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1answer
25 views

Are there databases that collect historical state and local government-initiated lawsuits against corporations?

For instance, this database collects federal lawsuits against corporations. Is there an equivalent one that collects state and local government initiated lawsuits?
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1answer
76 views

What is the advantage of having a legal domicile in the Caymans?

I was researching corporate structures and stumbled upon a large Chinese company called SMIC. They are legally domiciled in the Caymans. I was wondering what the advantage for them to have a legal ...
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1answer
34 views

Who holds legal rights to manage a fund's money?

Scenario: Bob, Larry, and Curly want to invest their money together. Bob will be the active investor and Larry and Curly will only contribute capital. They set up two companies: Company M (...
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1answer
90 views

Why big corporations do not include the copyright notice into their WEB [HTML] code?

One of the first things that I learned when writing code was to copyright it. As far as I know, the things to do are: Create a license file that describes the copyright and lists the software files. ...
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2answers
58 views

Does statute prescribe algorithm for calculating quorum?

Does Florida Condo Law FS718 or any relevant statute provide guidance as to how to determine the minimum number of Florida condo board directors must be present for a meeting if a 5 seat board has ...
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2answers
184 views

My bank sold a local branch to another bank, including my accounts, without my permission. Is that legal?

My bank sold a local branch to another bank (in the state of Wisconsin, United States of America), including my accounts, without my permission. My first knowledge of it was that my debit card was ...
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1answer
56 views

Compliance of .eu domain names post-Brexit

I am a sole-trader who operates purely in the UK, and I also have a corresponding (dormant) Limited company on 'Companies House'. I have both .com and .co.uk suffixes. I also have .eu suffix, and ...
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1answer
93 views

If a director of a private limited company in India dies, will their spouse get the profits of the company later?

If I am a director in a private limited company in India with a friend, and I die after some years, will my wife get the profits of the company?
2
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1answer
47 views

Must a person obtain a license from console manufacturer before making a game for it? What was different in the 80s?

In this YouTube video around 2:30 it is stated There was no way to stop another company from making a game for your system. and Unlike now where you have to obtain a license to make a game legally ...
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1answer
58 views

US citizen incorporating a company where he won't work and hiring an H1B as the CEO

Can a US citizen incorporate a company where he won't work and hire an H1B visa holder as the CEO?
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1answer
40 views

Do startups pay taxes on venture funds?

The corporate tax rate in Delaware is 8.7%. The federal corporate tax rate, which startups likely don't have the faculties to avoid paying, is 21%. If I'm a startup incorporated in Delaware, and I ...
2
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2answers
95 views

If a public pharmaceutical company came up with a cure for a serious disease, is it possible they could not legally make it available?

Publicly traded companies, for better or worse, have legal obligations to their shareholders. If a publicly traded pharmaceutical company could make more profit for their shareholders by selling a ...
1
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1answer
51 views

What happens when a Canadian not-for-profit organization does not comply with its own by-laws?

When I search "by-law Canada" in Google, everything I get is about "municipal by-laws" such as as the first result which is the website of a law firm that explains what municipal ...
4
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1answer
247 views

What happens to a dissolving corporation that cannot afford to pay its franchise tax fees?

What happens to a corporation, or any of its executives, when that corporation is dissolving but has unpaid state franchise tax fees that it does not have the assets to pay? Can these corporation ...
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1answer
157 views

Anti-monopoly laws in the United States and Google

I am trying to understand what are the circumstances under which a corporation in the US is deemed a monopoly and can face legal consequences for it. More specifically, I am interested in why Google ...
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0answers
17 views

How is it determined who in an organization (corporation) has the authority to agree to what, in terms of contracts like settlements? [duplicate]

I'm curious about how it is determined who has the authority to bind a company to an agreement. For example say there's a company BoBo. Sam is fired for just cause from BoBo. Sam puts together ...
1
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1answer
63 views

Can choosing a username with corporate terms be a violation of the law?

I recently answered this excellent question on the Software Recommendations SE: Method/Software to rename multiple files in ascending numerical order regardless of file type? I just noticed the ...
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1answer
116 views

Can 501(c)(3) nonprofits sell goods and services like a for-profit?

United States/NY state here. I would like to form a business entity whose primary purpose will be helping the public at large with a very specific charitable cause. This will be a 501(c)(3) charitable ...
2
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1answer
57 views

Starting limited company in UK - different classes of shares

We are starting a limited (by shares) company with partner (in England). We wanted to model it in way that I have 70% of dividend and capital distribution rights and my partner 30%, but we both have ...
2
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1answer
104 views

Is it a myth that a single owner LLC protect the owner's personal assets?

I own 100% ownership of an LLC. I started this LLC because everyone gave me advice that if the company is sued, the banks won't go after my car, my house or etc. As I dig deeper into the legal ...
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2answers
68 views

Can a plaintiff in a fiduciary breach of trust sue a particular director instead of the company?

I heard this story from Peter (not actual name): Peter co-founded a company with John. John earns 80% of shares while Peter owns 20% of shares. John being greedy empties all company coffers ...
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3answers
106 views

Does the CEO of a company have any legal responsibility to act in the interests of its shareholders?

Does US law include anything that places a burden of responsibility on a company's CEO to act in the interests of its shareholders, even if the CEO owns a majority share in the company? Let's say, as ...
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1answer
35 views

Can a co-founder sue another co-founder from company constituitional infringements using courts of another country?

Say a company is incorporated in Dubai. All Shareholders live in Australia. A co-founder does something against the company constitution, such as diluting other co-founder shares. Can the other co-...
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1answer
69 views

Can a minor act as an officer or director of a corporation?

I have two questions: I was wondering if a minor could act as an officer of a corporation; and if a minor can act as a director on a board of directors in the Commonwealth of Massachusetts.
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2answers
82 views

English Football Club ownership

I have been wondering if club fans have the power to sanction the compulsory sale of the club by an owner whom they perceive as frustrating their club's future. In any case, the money comes from these ...
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1answer
60 views

Can a company change a policy and enforce it like this?

If an organization offers an online education policy as a perquisite (after being employed for a certain period) and the policy states that it's free for the employees if they opt-in and they'll have ...
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1answer
41 views

Appraisal Rights in Chapter 11?

Assuming some number of shareholders believe that the bankruptcy process is inadequately compensating them (i.e. by setting the company valuation too low and thus giving creditors too much equity in a ...
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2answers
592 views

Why is a company allowed to change the number of shares it’s divided into after its IPO?

I read that even after an IPO, a company can change the number of shares that it’s divided into based on a board vote. What’s to prevent them from arbitrarily increasing the number of shares to raise ...
2
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1answer
50 views

By what mechanism does a parent company control its subsidiary?

Company B is a fully-owned subsidiary of Company A, a huge international conglomerate. All the employees of Company B are in the orgchart of Company A, all under Company B's CEO. That CEO's boss is a ...
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1answer
52 views

Can I use the name of an out-of-business company for my project?

There was a business with a name I want to use for my business but it is out-of-business. Do I have the right to use a name of an out-of-business company? I am in Israel but my business is ...
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1answer
23 views

When creditors come for assets in an LLC formed in another state, which state laws apply?

I am heavily indebted.I also want to start a business. I want to protect my assets from creditors. If I put my personal assets into my business, will they be protected? From what I understand, Wyoming ...
1
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1answer
73 views

Does dissolving your LLC imply it was a sham company and therefore confer liability to you as the sole member?

I've done work for a former startup client in another state (AZ) for a few years and that work has come to an end. All that contracting work was done under my LLC (in DE) specifically created for that ...
0
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1answer
27 views

May there exist a non-voting board of directors member in the United States?

May there exist a non-voting board of directors member in the United States? Or by definition are the board of directors all voting?
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0answers
33 views

Is there any limit on how much bonuses can be given before filing for bankruptcy in the United States?

I read on https://www.cnn.com/2020/05/26/investing/hertz-bankruptcy-executive-bonuses/index.html (mirror): Hertz paid out millions of dollars in bonuses to its executives just before its bankruptcy ...
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0answers
43 views

What approaches can comply with SOX code review requirements?

I am working with a client, which has a bunch of services under SOX compliance. They currently have a code-review policy that looks like so: A reviewer must accept the last commit on a pull ...
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0answers
51 views

Can a company be both an airplane manufacturer and an airline?

It may be advantageous for a company that manufactures its own aircraft to also be an airline. For example, the airline business would likely have reduced maintenance and parts costs relative to other ...
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1answer
92 views

How is a corporate person, a person?

Law with respect to the human person, rests on intention, or a neglect of intention. A corporate person, has no access to intention - it is only human persons, behind the veil of the corporate person,...
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2answers
198 views

If I buy assets (inc customer data) from receiver of a UK company, how does GDPR apply?

I’m considering buying the assets of an insolvent company that has gone into administration / receivership. Included in the assets is a customer database. How does GDPR apply? is the purchasing ...
3
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1answer
47 views

How do plaintiffs get emails relating to companies they are suing?

For example in the case of IBM getting sued over age discrimination, the plaintiff somehow got emails showing that upper management instructed his director manager not to transfer him but to fire him. ...
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3answers
144 views

How exactly is founder stock created?

Suppose that I found a C corporation, Superlative Widgets Inc., within the U.S. I would like to both fund the corporation and issue myself 100,000 shares in a way that avoids or minimizes my personal ...
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2answers
76 views

Individual vs. corportate liability for inherently dangerous activities

These days a lot of people make their living on YouTube, doing inherently dangerous things and filming them. For instance, there's those people who climb up unfinished skyscapers without any safety ...
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1answer
48 views

Dating corporate banking resolution

I've started a US / California corporation for my company and have almost instantly come up to an issue I do not know how to address. In order to open a Bank account, the board (just me) has to agree ...
2
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1answer
73 views

Can a contract signed as an act of submission rather than consent be considered invalid?

Please consider the following situation: A (USA) company makes an offer to a (UK) individual. The company purchases an inbound ticket for the individual. The individual arrives. The individual ...
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2answers
91 views

Can a US Company be sued for failing to honour equity component of offer of engagement?

In the following scenario, does the individual have a legal case against the company? And if so, what law specifically can be applied? Summary A company offers x% equity. The individual engages. The ...
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1answer
92 views

Is it legal to crowdfund the cash prize that would be payed to the winner of a 1-on-1 sporting event?

I am personally planning to build a donation-based crowdfunding sporting (like chess, shogi, go, etc.) website . I would like to know if it is legal to gather donation from the users then pay the ...

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