Category Archives: Business Law

A corporation with profits taxed separately from its owners. The name derives from subchapter C of the Internal Revenue Code which governs the taxation of this type of corporation. C- corporations do not have limitations on the number of shareholders. All publically traded corporations are C- Corporations. A C corporation differs from an S corporation, whose profits are passed through to shareholders and taxed at the personal rates of the shareholders. S corporations have limits on the numbers and types of shareholders.

An agreement between two or more parties that creates in each party a duty to do or not do something and a right to performance of the other’s duty or a remedy for the breach of the other’s duty.

The written rules for governing the operation of a corporation or organization.

A document filed with the state to form a limited liability company, or L.L.C.

The basic charter of a corporation which spells out the name, basic purpose, incorporators, amount and types of stock which may be issued, and any special characteristics of the corporation. Articles must be signed by the incorporating person. A corporation’s existence begins when its articles of incorporation are filed with the Missouri Secretary of State.