1. What does 'corporate personhood' mean in the context of corporate law?
2. What is the primary legal benefit of limited liability for shareholders in a corporation?
3. Which of the following best describes a sole proprietorship?
Corporation — definition?
A legally recognized separate entity with rights and liabilities.
Corporation — definition?
Legally recognized separate entity with limited liability.
Business Entity Types — example?
Sole proprietorship, partnership, corporation, LLC, non-profit.
Limited Liability — purpose?
Limits owners' liability to their investment.
Corporate Personhood — role?
Grants corporations legal rights similar to individuals.
Corporate Personhood — role?
Gives corporations rights/responsibilities like individuals.
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