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The law treats a company as a legal “individual” that has standing to sue and be sued, distinct from its stockholders. The legal independence of an organization prevents shareholders from being personally responsible for company money owed. It additionally allows stockholders to sue the corporation through a spinoff go well with and makes possession within the company simply transferable. The authorized “particular person” standing of companies gives the business perpetual life; deaths of officers or stockholders don’t alter the company’s structure. A corporation is a legal entity created via the legal … Read More
