ShmoopTube
Where Monty Python meets your 10th grade teacher.
Search Thousands of Shmoop Videos
Incorporation Videos 104 videos
What is a Dissident Director? The Board of Directors of a company usually reaches a consensus the majority of the time in order to decide on polici...
"Safe harbor" refers to the notion that, if you follow a basic set of rules, you cannot be found guilty of a crime or shady dealings.
What is Contingent Liability? Contingent liability refers to a possible liability in the future contingent upon some other event being the trigger....
Finance: What is a Corporation? 89 Views
Share It!
Description:
What is a corporation? Corporations are legal bodies. Bodies exist in various forms: LLC (Limited Liability Corporation), S-Corporation (now with pass-through tax treatment...think: accountants' partnership), and C-Corporation (which is how most of the big guys are set up).
- Social Studies / Finance
- Finance / Financial Responsibility
- Life Skills / Personal Finance
- Finance / Personal Finance
- Courses / Finance Concepts
- Finance / Finance Definitions
- Life Skills / Finance Definitions
- College and Career / Personal Finance
- Subjects / Finance and Economics
- Finance and Economics / Terms and Concepts
- Terms and Concepts / Accounting
- Terms and Concepts / Banking
- Terms and Concepts / Board of Directors
- Terms and Concepts / Bonds
- Terms and Concepts / Careers
- Terms and Concepts / Company Management
- Terms and Concepts / Incorporation
- Terms and Concepts / Regulations
- Terms and Concepts / Stocks
- Terms and Concepts / Tax
- Terms and Concepts / Trusts and Estates
- Terms and Concepts / Wealth
Transcript
- 00:03
Finance a la shmoop what is a corporation? corp-o-ration.. [Mouth saying syllables of corporation]
- 00:11
see the Corp in there? well it's latin short for corpse or
- 00:16
body so a corporation may or may not be cold and covered with maggots [Man disguised as a corpse wakes up and screams]
- 00:21
corporations are just legal bodies they're generally set up so that
- 00:25
there's a clear legal distinction between things and individual does and
Full Transcript
- 00:29
things that the company she works for does let's say you want to set up your [mime artists at the window of a shop]
- 00:34
own mime training studio brother can you spare a mime, but then you hit a wall
- 00:39
one of your mime trainees becomes badly injured while trying to get out of a [mime trainee gets injured while attempting to get out of a glass box]
- 00:43
glass box and you get sued you lose..wow you're totally speechless so your
- 00:50
corporation which was basically just you ten grand in the bank and a hat rack [Laptop showing $10.000 in the bank beside a hatrack]
- 00:55
full of berets well it loses everything you turn over your 10k to the sue-er
- 01:01
the one who sued you and you dust off your hands and move on try new venture [mime dusts off hands]
- 01:06
tapping into your prior experience as a mime therapist well legally the guy who
- 01:11
sued you while working for the corporation can't sue you personally
- 01:15
your $350,000 home is untouchable yeah who knew miming paid so well same deal [Mimes $350,000 home]
- 01:22
on that untouchable-ness of your Prius and the untouchable-ness of your
- 01:26
collection of invisible ropes, the legal body of the corporation threw itself on [Mime pretending to move along an invisible rope]
- 01:30
the landmine of your lawsuit and took the blow while you just walked away [Mime artist moon-walking off stage]
Related Videos
What is bankruptcy? Deadbeats who can't pay their bills declare bankruptcy. Either they borrowed too much money, or the business fell apart. They t...
What's a dividend? At will, the board of directors can pay a dividend on common stock. Usually, that payout is some percentage less than 100 of ear...
How are risk and reward related? Take more risk, expect more reward. A lottery ticket might be worth a billion dollars, but if the odds are one in...
GED Social Studies 1.1 Civics and Government
