Registered corporations have legal personality and their shares are owned by shareholders[2][3] whose liability is generally limited to their investment. Shareholders do not typically actively manage a corporation; shareholders instead elect or appoint a board of directors to control the corporation in a fiduciary capacity. In most circumstances, a shareholder may also serve as a director or officer of a […]

There is some overlap between stock/non-stock and for-profit/not-for-profit in that not-for-profit corporations are always non-stock as well. A for-profit corporation is almost always a stock corporation, but some for-profit corporations may choose to be non-stock. To simplify the explanation, whenever “stockholder” or “shareholder” is used in the rest of this article to refer to a stock corporation, it is presumed […]

Registered corporations have legal personality and their shares are owned by shareholders whose liability is generally limited to their investment.  Depending on the number of owners, a corporation can be classified as aggregate or sole. Corporations come in many different types but are usually divided by the law of the jurisdiction where they are chartered based on two aspects: by […]