Corporate Form of Organization

 
 Artificial being / entity created by law
o Artificial being means that a corporation has a personal/separate juridical personality
o May sariling pagkatao
o You can be sued or you can sue other
o It can enter into a contract under the name of the corporation
o To be represented by the officers of the corporation (president)
 Existence is separate from owners
o Shareholder has Limited Liability
o Whatever is your investment yun lang ang liability mo, they cannot run on your personal
assets
o The BIR run for the president
o Old corporation code: need 5 incorporators
o One person corporation
 Has rights of succession and privileges
o You can't transfer the ownership if the owner died
o Pag namatay yung owner, mamatay na yung corporation, need mag register for a new
name
o You can transfer the ownership without the consent of all the partners
 Can be Privately or Publicly Held or Own
o Privately
 Traded in Philippine Stock Exchange (PSEI)
 You can buy stocks in Psei
 Not listed company
o Listed Company
 Shares of stock are being traded in an open market or at psei