Unit 1

Apuntes

Unit 1 What is corporate/company law - Corporate law is the law that creates legal persons, it allows for the creation of legal entities, such as corporations, that are treated as “separated” persons under the law. This “legal personality” has some implications: First, it must have the capacity to sue and be sued (a corporation can enter into contracts, own property, and be involved in legal proceedings in its own name) Second. Limited liability, generally, the owners (shareholders( are not personally liable for debts and obligations of the corporation. This risk is usually limited to the amount of their investment. -It facilitates economic activities - individual wealth Corporate law provides the legal structures and rules that enable businesses to organize, raise capital, and conduct commercial activities. By establishing clear frameworks for ownership, management, and transactions, it fosters economic growth and the creation of wealth for individuals through: investment, entrepreneurship and employment -Law that per tradition has been developed and thought of as an area for the competitive lawyer/person; a highly specialized field of law, for unethical and ru...