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Corporate Veil
A legal concept that separates the identity of a corporation from its shareholders, protecting them from being personally liable for the company’s debts and obligations.
Closely Held Corporations
Companies whose shares are owned by a small group of individuals or families, often with restricted stock sales.
Parent-subsidiary Relationships
The connection between a parent company that controls another company (subsidiary) through ownership of a majority of voting stock or influence.
RMBCA
Stands for the Revised Model Business Corporation Act, which is a model set of laws proposed to standardize the regulation of corporations across the United States.
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