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Purpose Of Corporate Law

Corporate law deals the formation and operations of corporations and is related to commercial and contract law. Business is a legal entity that requires legal expertise, It has legal rights and duties too. For corporate lawyers in Dubai, visit: https://www.alsaadiadvocates.com/practicies/corporation_law

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Purpose Of Corporate Law

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  1. Purpose of Corporate Law

  2. What is Corporate Law • A Corporate law is the body of law that deals with the formation and operations of organizations, companies, businesses or enterprises. • They govern the rights, relations, and conduct of persons or businesses.

  3. The Corporate Structure • Corporation: A corporation is a legal organization run by laws of its incorporation, handling a corporation as a legal person that has the authority to take action and be sued. • Limited company:  These companies are restricted by their shares or by guarantee.    • Unlimited company:  Here the legal liabilities are not limited and company’s outstanding financial liability is settled by its shareholders. • Limited liability partnership: Here all the partners will have limited liabilities. They thus can perform factors of corporations and partnerships.

  4. Limited partnership: This is almost of same kind as general partnership. Here it must be at least one general partner and at least one limited partner. • Not-for-profit Corporation: These entities won’t distribute its income to members, leaders or shareholders of the organization. • Partnership: This is a system where all the partners agree for the advancement of their mutual interests. • Sole proprietorship: The owner here would be a single person. He owns and runs the enterprise and has full control of all the elements legally. Profits and loss are shared by the same person.

  5. Corporate laws in UAE • Corporate laws run the establishment, regulates the ownership and management of companies present in UAE. • Federal law no.8 of 1984 dealing with corporations has been replaced with a new law. This new law doesn’t interfere with laws of free zone areas. • Foreign ownership is curbed to 49% while the remaining 51% of the company shareholding must be owned by a UAE national. • The company law targets to co ordinate corporate standards and practices in the UAE with the ones in other important business jurisdiction present in the world.

  6. Corporate accountability and transparency are also treated in the corporate law. • Business is a legal entity that requires legal expertise, It has legal rights and duties too. • Corporate law firms in UAE can help you sort that out. • For corporate lawyers in Dubai, visit:https://www.alsaadiadvocates.com/practicies/corporation_law

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