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The umbilical cord
Limited Liability
Liability is restricted to capital contributed; shareholders are shielded from liability for the corporation’s debts.
Law Governing Corporations
A body of laws and regulations that dictate the creation, operation, and dissolution of corporations.
Significance
The importance or meaning of something, especially in terms of its effect or influence on particular situations or contexts.
Annual Returns
Reports filed annually that detail a company's financial status, including assets, liabilities, and profits, often required by government entities to ensure transparency.
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