Examlex
The tendency of individuals with similar genes to have children is referred to as
Personally Liable
A situation where an individual is responsible for a debt or obligation from their own assets, rather than the liability being limited to business or corporate assets.
Public Corporation
A company whose shares are traded freely on a stock exchange or markets, owned by public shareholders, and subjected to regulatory reporting requirements.
Model Business Corporation Act
A uniform set of laws that is designed to regulate the formation, operation, and dissolution of corporations, adopted by many U.S. states to facilitate business.
Close Corporation
A corporation with a limited number of shareholders and no public shares, often operated by a few individuals with closely aligned interests.
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