I have checked on your discussion on the five characteristics of business corporations. According to your readings, you mentioned legal personality, limited liability, transferable shares, centralized management, and shared ownership of the capital contributors. In your discussion, you managed to outline the limited liability interest of an individual as the most helpful feature of the business corporation laws. Moreover, you mentioned that creditors are not allowed by the law to make a claim in court on assets of companies. Readings indicated that creditors are not allowed to file a claim on shareholders’ assets.
Consequently, as you mentioned, I feel that with the shareholders benefits most from the provisions of corporation business laws. Notably, the law also allows shareholders to be able to transfer their shares among themselves. It is also observable that you mentioned that the assets of an organization could be exposed to in the absence of the business corporation laws. As an example, you stated that an investor could easily take advantage of the lack of corporation laws and sell the assets of the organization.
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