Advanced Business Forms
This is the main disadvantage of corporations involving taxation
What is double taxation?
Partners are personally liable for these
What are partnership debts?
This duty requires informed and careful decisions
What is duty of care?
This defense involves buying the acquiring company
What is Pac-Man defense?
This involves trading on nonpublic information
What is insider trading?
This type of company owns shares in other companies
What is a holding company?
Each partner can bind the partnership through this legal concept
What is agency authority?
This duty prohibits self-dealing
What is duty of loyalty?
This refers to a hostile takeover attempt amount
What is a tender offer?
This period prohibits selling securities
What is the pre-filing period?
This advantage allows corporations to exist beyond owners’ lives
What is perpetual existence?
What is agency authority?
What is a limited partner?
Violating these can result in personal liability
What are fiduciary duties?
This defense involves restructuring assets
What is asset restructuring?
This allows offering but not selling
What is the waiting period?
This liability shield can be lost through fraud or misuse
What is limited liability?
This is required to dissolve a partnership formally
What is agreement or court action?
This includes acting in good faith
What is the business judgment rule?
This defense dilutes stock value
What is poison pill?
This occurs when registration becomes effective
What is post-effective period?
This distinguishes LLCs from corporations in governance
What is management flexibility?
This type of partnership limits liability for all partners
What is an LLP?
This occurs when a director benefits personally from decisions
What is self-dealing?
This strategy seeks a friendly merger partner
What is a white knight?
This issuer has special privileges under SEC rules
What is a WKSI (Well-Known Seasoned Issuer)?