CORPORATION

CORPORATION

An artificial being created by

operation of law having the right of
succession, and the powers,
attributes and properties expressly
authorized by law and incident to
its existence.
 CORPORATION

An artificial being created by

operation of law having the right
of succession, and the powers,
attributes and properties
expressly authorized by law and
incident to its existence.
Theories on the formation of a Corporation

CONCESSION THEORY. Means that a corporation

was conceived as an artificial person owing
existence through creation by the State. It has
without any existence until it has received the
imprimatur of the state acting according to law,
through theOF
THEORY SEC. CORPORATE ENTERPRISE. The
corporation is not merely an artificial being, but
more of an aggregation of persons doing business,
or an underlying business unit.
GENOSSENSCHAFT THEORY. It treats a corporation
as the reality of the group as social and legal
entity, independent of State recognition and
concession.