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Company Law as Corporate Control - Essay Example

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The aim of this essay is to describe the importance of legal regulations incorporate functioning. The writer suggests that despite apparent disadvantages, company form of business enterprises is considered the best manifestation of entrepreneurship and leadership status. …
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Company Law as Corporate Control
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Download file to see previous pages Fundamentally, corporate control could exist at two planes- internal and external. By internal control is meant how corporate discipline themselves through a series of financial and management control mechanism, aimed at cost consciousness, quality control, financial conservation, and accounting rigidity.
Corporate moves along robust rules, regulations, norms, and procedures. Public companies and corporations are always under regulatory scrutiny since they deal with public funds, and have a higher degree of accountability and responsibility, especially when seen in comparison with private limited companies who mainly deal only with private or promoter’s funds. The characteristics of companies are in terms of their possession of a legal entity or personality, segregated from its directors, members or employees scope of financing, limited liability concept, management, profit sharing, taxation laws, public or private participation in its share structuring, a method of termination of their functioning, or liquidation.
While having a distinct legal individuality, it would also be necessary to conform to Governmental and local laws of the land in which it is registered and the countries in which it resides and operates business dealings.
However, there are often misconceptions about the true role and functions of corporate. Some schools of thought ascribe companies as profit-seeking groups. One of the key areas in which corporates operate today is in the discharge of their social responsibilities and duties towards the communities in regions where they function whether at the local, domestic or global level. This could be done in the following ways: ...Download file to see next pagesRead More
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