 When a pub. traded company buys another pub. traded company, when/how does the bought company stock disappear? |
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 How many millionaires are there in the world? |
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 Couldn't walmart be sued for monopolizing? |
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 What does a Wal-Mart greeter get paid to do? |
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 Corporate Gifts? |
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 What is the biggest chain of restaurants in the world, excluding the Sandwiches/Pizzas chains? |
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 Can two of three owners fire you? |
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 What happened to the Microsoft's takeover bid for Yahoo? |
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blahblah | What does "separate legal persona" mean and why is it a benefit of incorporation?Thank You.? |
This question deals with Scottish Company Law. |
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professortig
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Not sure about Scotland, but in the U.S. it means that a corporation is it's own legal entity, like a person. When a person owns a business, that person is liable for all of that business's debts. If the business is a corporation, the owner is only responsible to the extent that he/she has contributed to the business. In other words, if a corporation has huge debt and goes bankrupt, debtors cannot come after the stockholder's personal possessions to pay the debt. |
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bettyswestbrook
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I don't know about Scottish Company Law, but in the USA, it means that, although, the Corporation can be sued, the individual owners and stock owners cannot be sued for the debt of the Corporation. |
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harry
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I presume it means that you have limited liability and therefore only going to lose your stake in the business -as the business and you have 2 different identities in the eyes of the law. |
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Ruth
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A separate legal persona means that the company, in itself, is a legal entity that can enter into contracts. It also offers protection for the directors. If the company (as a legal entity) gets sued, or becomes insolvent, then it is only the assets of the company that are at risk, and not the directors personally. |
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panama7777777
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Separate Legal Persona means the entity is a separate and distinct lawful entity, an unnatural person in a sense versus a natural person aka as a human being. This website discusses corporate structures in the offshore realm: http://www.panamalaw.org |
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gamu
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the state of being a legal persona is acquired by having the certificate of incorporation.This would enable the bussness to sue and to be sued. |
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asiaticmoor
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Thanks to all that posted their comments. Know disrespect to anyone on this forum, Ruth you have the best over and Inner standing of all that have posted. Your explanation is correct. To all the rest! look these words up, Noun, Person, Corporation, Entity, then you will see the true meaning. Oh! Much respect to panamalaw7777777. Thanks to those that allowed this forum. |
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