Examlex
Term for identification: Utopia
Personal Liability
The state of being legally responsible for the debts or actions of oneself, not shielded by corporate or other legal entities.
Incorporated
A legal status indicating that a business entity has been registered as a corporation, separating its liabilities and assets from those of its owners.
Model Business Corporation Act
A model set of laws proposed to standardize the regulation of corporate business practices across the United States.
Articles of Incorporation
Official documents filed with a governmental body to legally form a corporation, outlining its structure, purpose, and operations.
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