Corporate Law

Is a record label a private company? A record label is classified as a business because you are in the business of selling your art which is music in your case. In South Africa, you can register a company with the CIPC and the whole process from start to completion will only cost you 175 … Read more

Can I close my limited company and open a new one? In short, yes you can close a limited company with debts and start again, however, there are strict rules to be followed and if there is a claim that it has been done in a fraudulent way the consequences can be severe. Read more … Read more

Who can dissolve a company? Generally, a company can be dissolved when there’s no debt to repay, but it can also be done if the directors can show that the outstanding debts can be repaid within 12 months. They need to sign what’s called a ‘declaration of solvency’, promising that the company will be able … Read more

A company that was established in Georgia with the intention of making a profit is known as a domestic profit corporation. It is a legitimate organization that is bound by state laws and has to adhere to all rules and specifications established by the government of the state. Shareholders own the corporation and are entitled … Read more

What is difference between dissolution and winding up? Winding up means appointing a liquidator to sell off the assets, divide the proceeds among creditors, and file to the NCLT for dissolution. Dissolution means to dissolve the company completely. Any further operations cannot be done in the company name. company is carried on. Read more on … Read more

Can capital contributions be sweat equity? But, if there are fellow shareholders of your S corporation, a capital contribution in the form of sweat equity can become extremely problematic if all the owners do not sit down to carefully plan for and discuss how to value the sweat equity that one or more of the … Read more

What is an active resident agent? A registered agent is a person or company designated to receive legal correspondence and official paperwork on behalf of a business (e.g. LLC or corporation). When a lawsuit is filed against a business, the court will issue a notice, called a service of process, which is delivered the company’s … Read more

What is a Texas foreign LLC? What is a Foreign LLC? For Texas purposes, if your LLC is formed in another state, then it is known as a foreign LLC in Texas. In other words, foreign doesn’t mean from another country. Instead, it means your business was organized under the laws of another state. Read … Read more

Which of the following may be issued to shareholders as proof of ownership in the corporation? A share certificate is a written document signed on behalf of a corporation that serves as legal proof of ownership of the number of shares indicated. A share certificate is also referred to as a stock certificate. Read more … Read more

Do I need a cl1? If you are a Limited Liability Company (LLC), professional organization, or other association taxed as a corporation and not exempt under SC Code Section 12-20-110, you must submit a CL-1 and include a $25 payment. Read more on dor.sc.gov One of the initial choices you must make when beginning a … Read more