liability of the shareholders. However‚ under certain circumstances the corporate entity may be disregarded. This is also known as piercing the corporate veil and is the most frequent method for holding the shareholders liable for the acts of a corporation. Corporate officers‚ directors and controlling shareholders have a general fiduciary duty of loyalty and care which should govern all their corporate conduct. Unless they breach that duty by gross negligence or acts in bad faith‚ they usually will
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The primary advantage of a corporate form of business is that a corporation is a stand-alone entity‚ which means you are not personally liable for the assets and debts of the business. Incorporating protects your personal assets from lawsuits‚ debt collection and other business issues that can arise. The stand-alone entity also separates tax liabilities‚ which is another advantage. This means that the corporation’s taxes are separate from your personal tax liabilities. As a business
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You are required to prepare an investigative report on a recent corporate scandal that involved improper accounting practices or any form of financial scandal. Your report must include the following: an overview of the corporation a description of the scandal methodology - explaining the specific accounting impropriety that the company used. an explanation of how the firm managed to hide their accounting improprieties a discussion of who the scandal effected - both inside‚ and outside
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Reaction Essay: The Corporation The documentary The Corporation‚ directed by Jennifer Abbott and Mark Achbar and produced in 2004‚ although bias‚ opens many doors for discussion in regard to capitalism and the role of corporations in our lives. I found the documentary to be presented professionally‚ and filled with legitimate facts more so than extreme opinion. The documentary truly outlines the "all-pervasive" role the corporation has taken as the "world’s dominant institution". The film opens
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Many times the best ideas arise from passionate interest in commonplace things. Henry Ford had an idea to manufacture automobiles‚ and he made his idea happen. The owners of Google had an idea‚ and they made their idea happen. These individuals not only made their ideas happen; they took simple ideas and made them work. Examples of commonplace passionate interests can be found by examining careers. An example of a common passionate interest is a career. Ideas from commonplace things
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The best ideas arise from a passionate interest in commonplace things Mankind has demonstrated a profound ability to draw inspiration from even the most mundane situations and surroundings. Throughout history‚ the commonplace has often spurred uncommon achievements for impassioned thinkers including Archimedes‚ Leonardo da Vinci and Isaac Newton. In modern times‚ the scientific community increasingly gleans groundbreaking ideas from the natural world in the emerging field of biomimicry. Archimedes’
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generate more profits to the company. Harris‚ Hargovan and Adams (2011) defined the term of best interest as “The meaning of the term ‘in the best interests’ of the company involves a consideration of ‘who’ the company is for the purposes of the law” Therefore‚ should directors must act in the best interest of the company. In my view‚ I think directors must not unequivocally act in the best in the best interest of the company . The main task of director’s duty is loyalty to their company (Hanrahan
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What is an Interest Group? An interest group (also referred to as advocacy groups) is an organization organized by a special set of people with specific skills to lobby for or against a specific interest to benefit their cause. They usually lobby for one or more shared concerns to manipulate public policy and opinion especially in the U.S. Congress to benefit their cause‚ supporters‚ or one segment of society. They include a vast array of organizations such as: charitable organizations‚ civil right
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this assessment‚ the audience will be going through the collective impact that Interest groups and lobbyists have in today’s lawmaking. If‚ and how the government should apply tougher restrictions‚ limitations and oversight on interest groups‚ who have access to greater funds‚ in an ability to allow all of our voices to count equally and account for the same amount of influence. The most basic definition of an interest group is the collection of individuals organized to influence public policy‚ primarily
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Working Paper # 03-115 Rev. 09/04 Conflicts of Interest and the Case of Auditor Independence: Moral Seduction and Strategic Issue Cycling Don A. Moore Carnegie Mellon University Philip E. Tetlock Haas School of Business Lloyd Tanlu Harvard Business School Max H. Bazerman Harvard Business School This paper has benefited from the feedback of Art Brief‚ George Loewenstein‚ and three anonymous reviewers of an earlier version of the paper. This paper was supported by a grant from
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