Corporate Law is also known and often called as Business law, Enterprise Law or Company law. Corporate law regulates the formation of Corporations and companies and their functions, duties, Law. Corporate law is meant for making the business easier.
In corporate law, a person has limited liabilities, it can be understood with this example that if you have invested a certain amount in the corporate or you have certain amount of shares. Your liability is limited to your shares or investment, it has nothing to do with your personal assets unless and until you specifically give personal guarantee.
Corporation is a legal entity, in other word it can be said that a company/corporation/organisation registered under this act is a legal person and it can sue other person/organisation/company in its own name and it can also be sued in its own name. Corporation/company/organisation registered under this act can also be shut down with due process of law.
Corporate law has defined the functions /appointment of Directors/ Board of Directors / Meetings (annual General Meetings/ General Meetings) Record of Minutes etc.
One important thing to remember is that Corporate Law is Civil Law is governed under the civil law. But officers/employees or other person may be held criminally responsible for any fraud or criminal act.
The lawyers at Century Law Firm handle all kinds of corporate law matter with expertise.