incorporation


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corporation

corporation, in law, organization enjoying legal personality for the purpose of carrying on certain activities. Most corporations are businesses for profit; they are usually organized by three or more subscribers who raise capital for the corporate activities by selling shares of stock, which represent ownership and are transferable. Besides business corporations, there are also charitable, cooperative, municipal, and religious corporations, all with distinctive features. In the United States all governmental units smaller than a state (e.g., counties, cities) are municipal corporations. Certain religious functionaries (e.g., Roman Catholic archbishops) legally are corporations sole.

The legal personality of a corporation is symbolized by its seal and its distinctive name. As a legal person, the corporation continues in existence when the organizers lose their connection with it. In most cases its liability is limited to the assets it possesses and creditors may not seize property of persons associated with the corporation as stockholders or otherwise. Legal personality gives the corporation many of the capacities of a natural person; e.g., it can hold property and can even commit crimes (for which it may be fined and its directors imprisoned).

The Modern Corporation

The modern concept of corporate power holds that the rights of the participants as well as the conduct of the enterprise must be the subject of managerial discretion. The salient characteristic of the modern corporation is the separation of management from ownership. Management of industrial corporations now requires executive managers and a corporate bureacracy to oversee its complex and interlacing activities.

The large business corporation has strongly influenced the control of property in the modern world. The large corporations are typically controlled by a small minority of the stockholders. There are several methods employed by small groups of stockholders to gain control of large corporations. These include pooling of the majority of stock in the hands of trustees having the power to vote it and the use of proxies (agents for the actual stockholders pledged to vote for particular candidates for managerial positions). Proxies are generally successfully used because stockholders rarely attend meetings or name proxies other than those suggested to them by management.

A more recent type of corporation is the holding company, organized to buy a controlling interest in other corporations; this type of corporation typically possesses no physical assets. The amount of cash needed to control a concern is lessened by pyramiding holding companies. This is done by creating a company to hold a voting control of one or more operating companies. A third company is created to hold a controlling interest in the second, and so on. The control of the last holding company is sufficient to control all; and such control, because of the scattering of stock among many small holders, may need the ownership of only 10% or 20% of the stock available.

See also trust.

The Regulation of Corporations

Until 1844 incorporation in England continued to be a matter of special grant by the king or Parliament. New corporations were created in the Industrial Revolution to finance larger economic units, such as railways and steam-driven machinery in factories. In the United States the state legislatures became the chief authorities to grant charters to corporations, although the federal government incorporates in a limited field. Federal charters were granted to both of the Banks of the United States, to certain railroads after the Civil War, and to the Communications Satellite Corporation (Comsat). Corporations owned by the federal government and financed by government appropriations include the Federal Deposit Insurance Corporation, the Community Credit Corporation, and various corporations established to meet emergencies and later liquidated. At first states passed a special act for each incorporation, but in 1811, New York state enacted a general incorporation law enabling the secretary of state to give charters. Since the Dartmouth College Case of 1819, when a charter was held to be a binding contract between a state and a corporation, unalterable and unamendable by the state without the corporation's consent, fewer perpetual charters have been granted, the right of the legislature to alter or annul being specifically reserved in the charter. Variability in state incorporation laws and the ability of corporations incorporated in one state to do business in all other states have allowed corporations to incorporate in the state or states having the most lenient incorporation laws. In general, the history of corporations in the United States has been marked by the abdication of state control over corporations.

Bibliography

See R. Sobel, The Age of Giant Corporations (1984); J. Davis, Corporations (1905, repr. 1986); W. Doran, The Business Corporation in the Democratic Society (1987); J. Bakan, The Corporation: The Pathological Pursuit of Profit and Power (2004).

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incorporation

  1. the process in which the occupational and political organizations of the working class are accommodated within capitalist society.
  2. the argument that working-class consciousness has been shaped by the values and interests of other, dominant, classes.
The concepts have a place in the arguments about working-CLASS CONSCIOUSNESS and CLASS IMAGERY. The first usage, for example, is resonant of the arguments about a separate status group within the working class, especially in the 19th century – the LABOUR ARISTOCRACY. The second might be compared to discussions of HEGEMONY. Often the distinction between sense 1 and sense 2 is analytical; in practice, organization and consciousness are treated in an integrated, coextensive way.

Incorporation is one of many concepts which have been proposed to explain the predominantly reformist attitudes of the working classes of capitalist societies. It has been particularly influential in UK studies. The extension of citizenship, and voting and welfare rights, for example, and the establishment of‘respectable’, skilled, male trade unionism after 1850, have been seen both as the product of working-class struggle and as a means of institutionalizing, and thus containing the level of, industrial and political conflict. The Parliamentary Labour Party has also been a major element in the incorporation of the working class into existing structures. In the 1960s, proposed and actual trade-union legislation which attempted to give the state a continuous role in monitoring and regulating relations between employers and unions has been explained in terms of the incorporation of union militancy into stable and routine state structures (see also CORPORATISM). Between 1945 and 1979 the involvement of trade-union leaders in government committees, the acceptance of knighthoods, etc., by union leaders, and the willingness of unionists to cooperate in state-inspired initiatives like ACAS, have all been seen as examples of incorporation, i.e. as reducing militancy by channelling potential conflict, leadership and values into forms which can be accommodated by the status quo.

Collins Dictionary of Sociology, 3rd ed. © HarperCollins Publishers 2000
The following article is from The Great Soviet Encyclopedia (1979). It might be outdated or ideologically biased.

Incorporation

 

the combination into one morphological unit of two or more semantemes, which are mobile components with separate lexical meanings; the number and order of the components are determined in each instance by the content of the utterance, but the relations between them correspond to syntactic relations.

In Chukchi, for example, incorporation is used to express attributive relations (ga-ηran-tor-melgar-ma, “with two new guns”), adverbial relations (m∂t-winw∂-ekwet-∂rk∂n, “we are leaving secretly”), object relations (m∂t-kupre-g∂nrit-∂rk∂n, “we are protecting the nets”), and object relations expanded by attributives (m∂t-kupre-g∂nrit-∂rk∂n, “we are protecting the new nets”). Such an incorporative complex is neither a word (because it may be divided into lexicosemantic units) nor a combination of words (because it has morphological integrity). Incorporation occurs together with agglutination in languages; the two are closely interrelated and mutually conditioned.

REFERENCES

Stebnitskii, S. N. Iz istorii padezhnykh suffiksov v koriakskom i chukotskom iazykakh. Leningrad, 1941.
Skorik, P. Ia. “O sootnoshenii aggliutinatsii i inkorporatsii.” In thecollection Morfologicheskaia tipologiia i problema klassifikatsii iazykov. Moscow-Leningrad, 1965.

P. IA. SKORIK

The Great Soviet Encyclopedia, 3rd Edition (1970-1979). © 2010 The Gale Group, Inc. All rights reserved.
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Hernandez, a real estate agent, said Farnsworth seemed to be against incorporation, and shielded the meetings from testimony by officials from another Arizona city that could've spoken of the benefits of incorporation.
"Worse, the SEC went against the mandate of the law by not giving Rappler an opportunity to amend or correct any perceived error before revoking its certificate of incorporation," Ressa said.
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In order to address these sociodemographic challenges, Japan and Korea have advanced a series of immigrant incorporation policies, represented by multiculturalism (tabunka in Japanese and damunhwa in Korean).
On an average of two year DSR data, maximum tillers (16), panicle length (27), grain panicle-1 (89) and paddy yield (2.75 t ha-1) was produced with P application @ 80 kg P2O5 ha-1 along with CR incorporation, which was considerably better (13%) than that of P application @ 120 kg P2O5 ha-1 without CR incorporation.
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This concept is further confirmed in the context of public joint stock companies by Article 72 of the 1984 Law, which provides that 'during the incorporation period, the company will have the corporate personality to the extent necessary for its incorporation.
Keeping in view the situation, Singapore's leading company registration specialist SBS Consulting has come up with a range of cost effective company incorporation packages.
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