BLW 1002 Lecture Notes - Lecture 3: Foreign Corporation, Public Limited Company
20 Sep 2016
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All corporations have birthdays" and birthplaces. " the birthday isn"t very important, but the birthplace is very important. Whatever state a corporation is incorporated in, that"s the corporation"s state of incorporation, and they must follow the state"s business laws. Once you incorporate in one state, you cannot reincorporate in another state. A corporation is referred to as a domestic corporation only by the state it was incorporated in. A corporation is considered a foreign corporation in all other states and countries. In order to do business in another state, a corporation needs only to fill out paperwork and pay a fee. Once functioning in the new state or country, the corporation must then follow that state/country"s laws and state an address in that state/country. If someone from a state or country wants to sue a foreign corporation, they do so in their own state or country, not in the corporations state of incorporation.
