Purpose Of Corporate Law

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Purpose of Corporate Law
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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.

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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 companys 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.

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• 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 wont
  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.

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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 doesnt 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.

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• 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/corpor
  ation_law