Types of Corporations

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Types of Corporations

A corporation is an entity (usually a business) with the authority under law to act as a single person distinct from the shareholders who own it. Many different types of corporations exist, and they are generally classified depending on specific factors, which include:

If I Plan to Form a Corporation, What Types Are Available?

Although there are a wide variety of corporation types, the most common formation types include:

What Is a Charter?

A charter is a document evidencing that the government has authorized the creation of a business or corporate franchise. A "corporate charter" is the document that one files with the secretary of state upon incorporating a business. The corporate charter often contains the articles of incorporation.

What Happens If a Corporation Loses Its Charter?

A corporation whose charter has expired or been revoked, relinquished, or voluntarily terminated is called a dead or dissolved corporation. It can no longer legally operate as a corporation under the law.

Do I Need an Attorney?

Determining the exact type of corporation that you wish to form can be tricky, because there are so many different options available. A skilled corporate attorney can help you to decide which type is best for your needs.

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Last Modified: 02-26-2014 04:20 PM PST

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