COMM231 Chapter Notes - Chapter 15: Legal Personality, Sole Proprietorship, Authorised Capital
14 Feb 2016
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Document Summary
Chapter 15 provides a large amount of information about corporations. Further, if you are starting a new corporation you will likely be using a lawyer and, otherwise you will be working in a corporation where these issues have long since been dealt with. However you must have a good understanding of the basic building blocks of the corporation in order then to learn more complex concepts as you advance in your professional careers. A corporation has a legal identity separate and apart from its owners, the shareholders. The corporation has both internal and external stakeholders. The corporation may be established under federal or provincial law, and may take various forms including public vs. private, widely held vs. closely held, etc. There are reasons to go one way or the other. What factors should be considered when deciding on one way or the other to raise money.
