CALL US: 601.859.1567  REQUEST A FREE CONSULTATION →  Home About Practice Areas Attorneys Contacts Corporate Law Corporate law (also “company” or “corporations” law) is the study of how shareholders, directors, employees, creditors, and other stakeholders such as consumers, the community and the environment interact with one another. Corporate law is a part of a broader companies law (or law of business associations). Other types of business associations can include partnerships, or trusts (like a pension fund), or companies limited by guarantee (like some community organizations or charities). Under corporate law, corporations of all sizes have separate legal personality, with limited or unlimited liability for its shareholders. Shareholders control the company through a board of directors which, in turn, typically delegates control of the corporation’s day-to-day operations to a full-time executive. Corporate law deals with firms that are incorporated or registered under the corporate or company law of the United States. The four defining characteristics of the modern corporation are: Separate legal personality of the corporation (access to tort and contract law in a manner similar to a person) Limited liability of the shareholders (a shareholder’s personal liability is limited to the value of their shares in the corporation) Shares (if the corporation is a public company, the shares are traded on a stock exchange) Delegated management; the board of directors delegates day-to-day management of the company to executives – ↑ BACK TO TOP – Canton, MS 907 W Peace St. Tel: 601-859-1567 Fax:601-859-2311 E-mail: Blackmon Law Firm Get directions on the map → © 2014 Blackmon & Blackmon PLLC | Attorneys at Law STAY CONNECTED WITH US:     