Examlex
Identify/define and explain the significance of the following: balance of power.
Subsidiary
A company that is completely or majority-owned by another company, known as the parent company.
Merger Plan
A detailed proposal for combining two or more companies into one entity, outlining the terms, conditions, and operational strategies post-merger.
Primary Liability
The direct responsibility of an entity or individual to pay a debt or damages without first requiring enforcement against another party.
Model Business Corporation Act
A template law designed to standardize the regulation of corporate affairs in the United States, frequently adopted or adapted by state legislatures.
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