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Commonly Asked Questions about US Corporation Legal Packages

Under the law, corporations possess many of the same rights and responsibilities as individuals. They can enter into contracts, loan and borrow money, sue and be sued, hire employees, own assets, and pay taxes. A distinguishing characteristic of a corporation is limited liability.
Southern Pacific Railroad Co., 86 the Court held that the Fourteenth Amendment protected corporations because corporations are merely associations of individuals united for a special purpose individuals whose rights would be infringed if the Court denied the corporations the amendments protections (p. 155).
Today, corporations have nearly every right a corporation might want under the Constitution: free speech, freedom of religion, Fourth Amendment privacy rights, due process, equal protection, property rights rights corporations use to challenge laws regulating the economy and the marketplace.
Right to vote on major decisions and election of directors; Right to participate in meetings; Right to receive dividends; and. Right to inspect company records that are relevant to the shareholders interests.
The most common forms of business are the sole proprietorship, partnership, corporation, and S corporation. A limited liability company (LLC) is a business structure allowed by state statute. Legal and tax considerations enter into selecting a business structure.
In most countries, a corporation has the same rights as a natural person to hold property, enter into contracts, and to sue or be sued.
Answer and Explanation: The laws of the specific state that the corporation occupies grants the company the rights, privileges, and legal status associated with a corporation. Each states laws can be slightly different, so the exact legal standing can vary state to state.
We help set up companies for both US and non-US residents since 1983. We provide company formation, registered agent, company secretary, virtual office, bank account opening assistance and related compliance services for corporations, LLCs and nonprofits.