USA HISTORY

Detailed explanation-1: -The doctrine of separate corporate personality means that when a business is registered as a company, it gives to this company a legal distinct entity from its members.

Detailed explanation-2: -Requirements of Corporate Charters Corporate charters are filed with the state secretary in which the corporation is located. Typically, the state in which the company is located charges a filing fee to process the corporate charter. Some government websites provide templates for corporate charters.

Detailed explanation-3: -A chartered company is an association with investors or shareholders that is incorporated and granted rights (often exclusive rights) by royal charter (or similar instrument of government) for the purpose of trade, exploration, and/or colonization.

Detailed explanation-4: -A corporation is legally a separate and distinct entity from its owners. Corporations possess many of the same legal rights and responsibilities as individuals. An important element of a corporation is limited liability, which means that its shareholders are not personally responsible for the company’s debts.