Business Finance
What is a corporation? What are the defining characteristics of a public corpora

Question Description

I don’t know how to handle this Business Law question and need guidance.

  1. What is a corporation? What are the defining characteristics of a public corporation? What is a conglomerate? What is the difference between a corporation and a conglomerate?

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Final Answer

A corporation is a separate entity that has been incorporated either directly through legislation or through a registration process established by law.

A conglomerate is a combination of two or more corporations engaged in entirely different businesses that fall under one corporate group, usually involving a parent company and many subsidiaries.

Conglomerates are corporations but not all corporations are classified as conglomerates. Both conglomerates and other types of corporations are legal entities, which means that the entity itself can buy assets or face lawsuits. Corporations, including conglomerates, must also pay state and federal taxes. However, conglomerates are distinguished by the fact that they have much more complex structures than other types of corporations.

Corporations tend to market products and services that are related to one sector of the economy, such as information technology, the automobile industry or banking. A conglomerate consists of a corporation that has a controlling interest in several other corporations

A corporation must register with a particular state before it can begin operations in that state, which means that major corporations have to register in many different states. Corporations owned by conglomerates also have to register at the state level, but the conglomerate itself does not have to register in every state where its subsidiaries operate.

Shares in global conglomerates are usually traded on several different stock markets around the world. Shares in many corporations are publicly traded and some firms are listed on multiple stock exchanges. However, shares in some corporations are privately held, which means you cannot buy or sell stocks of these firms on the open market.

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