CORPORATE LAW

Business Law

Corporate Law
2

The field of law concerning companies and

other business organizations;

including corporations, partnerships &

other associations, carrying on some

form of economic or charitable
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Corporation

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Corporation
4

An association of individuals, created by law or under authority of law,

having a continuous existence

independent of the existences of its

members, and powers and liabilities

distinct from those of its members.
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Characteristics
5

Legal Personality Limited Liability

Transferable Shares
Centralized Management Under Board

Structure

Shared Ownership By Contributors of 3/18/2014

Types
6

Private Company Public Company

Government Company

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Formation Of Company
Legal View

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Promoter
8

Promotion Taking Necessary Steps For Incorporation

Promoter One Who Starts The Off

A Venture

Not Solely For Himself But Other As

Well
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Functions of Promoter
9

Decides Company Name & Its Validity Company Memorandum, Article,

Directors Solicitors, Auditors, Bankers & Registered Office

Arrangements For Printing Documents Responsible For Bringing The Company

Into Existence

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Memorandum Of Association
10

A document which contains the fundamental rules regarding the

constitution and activities of a

company

Lays down how the company is to be

constituted and what work it shall
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Articles Of Association
11

A Document Which Contains Rules, Regulation & Bye Laws Regarding Internal Management Of The Company

Lays

Down

Regulations

For

Achievement Of The Object Of The Company As Per Its Memorandum, As To Carry Out Those Objects3/18/2014

Registration of MoA & AoA

12

Filed With The Registrar If Satisfied He Shall Retain &

Register Within Thirty Days

In

Case

Of

Refusal

He

Shall

Communicate Within Ten Days

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Shares
13

Share In The Capital Of A Company Share Capital To Be Decided By

Public Company To Start Operations

Registrar Issues A Certificate

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Other Legal Aspects

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Corporate Entity - Principles

15

Separate Legal Entity Capacity To Sue & be Sued

Perpetual Succession
Limited Liability

Common Seal
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Company Contracts
16

Authorize Any Person To Enter Into Contracts On Its Behalf

Including Oral Agreements Without

Seal

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Role Of Directors
17

Board Of Directors Principle Body One Director Chosen For

Management

Need Not Be A Shareholder Ownership vs. Control

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Corporate Veil
18

Separates

The

Personality

Of

Corporation From The Personalities Of Its Shareholders And Protect Them From Being Personally Liable For The

Company Debts And Other Obligations

Its Not Ironclad

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Corporate Veil
19

Under The Veil

Commission of Crimes Tax Evasion Fraudulent Intent

Company Being Used As An Agent of

Shareholders
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Piercing The Veil

20

A Legal Decision To Treat The Rights Or Duties Of A Corporation As The

Rights

Liabilities

Of

Its

Shareholders

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Criminal Liability
21

Tests For Prosecution Of A Corporation

Nature & Seriousness Of Crime Complicity & Pervasiveness Within Company

History Of Similar Conduct

Corporations Timely, Voluntary Disclosure &

Cooperative Efforts

Presence Of A Compliance & Ethics Code

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Criminal Liability
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Rationale For Criminal Liability Enormous Influence on Economy

Gross Negligence or Breach of Duty

Applies to Partnerships, Trusts & Unions

Test of Organizational Approach

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Criminal Liability
23

Fundamental Rights of A Corporation Fair Trial

Punishments

Restitution; Fines; Probation Under Court

Supervision;

Forfeiture

Clauses
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and

Public Apologies.

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Winding Up A Corporation

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Winding Up
25

A Legal Process By Which The Life Of The Company Is Put To An End

Assets Realized By Converting Them Into Money

Then Applied For Satisfaction Of Debts

The Balance Returned To Shareholders
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Winding Up
26

Either Voluntary Or Compulsory After The Winding Up Is Completed

The

Company

Deemed

To

Be

Dissolved

It Ceases To Exist As A Legal

Person/Entity.
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THANK YOU
YOUR QUESTIONS ARE WELCOMED
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