Examlex
If 14-month-old Anna plays with a remote control first by treating it like a phone, but then by understanding it is different from a phone and points it at the TV, she has engaged in:
De Facto Corporation
A business entity that operates as if it were a corporation although it has not completed the legal formalities for incorporation, and may be treated as a corporation by courts.
De Jure Corporation
A corporation that has fully complied with all legal requirements for its establishment, and thus has legal recognition.
Corporation by Estoppel
A legal doctrine that prevents a party from denying the corporation's existence if they have dealt with it as if it were a legal corporation.
Subchapter S Corporation
A form of corporation in the United States that is taxed under Subchapter S of the Internal Revenue Code, allowing profits to be taxed at the shareholder level rather than at the corporate level.
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