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SS Lecture 1_D1664 - SS Lecture 1 Overview Introduction to...

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1 SS Lecture 1 Overview Introduction to corporations & companies The architecture of companies Historical development HRS Ch 1 1 Introduction to corporations & companies What is a company? What is a corporation? Why do we have incorporated companies? 2 Incorporated Companies The dominant form of business organisation Over 1 4 million companies in Australia Over 1.4 million companies in Australia Created through a process of registration under statute - an “artificial legal person” Have the special legal attribute of separate personality 3 What is the purpose of companies? Traditionally, a means by which a large group of people with capital and management resources could come together to conduct an enterprise on an ongoing basis Now also widely used for small business and by individuals 4 Small and large companies Most companies are small businesses About 1,800 companies are listed [0.1%]. (Listed companies are companies in which (Listed companies are companies in which you can buy or sell shares through the ASX.) 5 The architecture of companies Capital structure equity capital (shares) debt capital Management structure board of directors and other officers members (shareholders) 6
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2 Capital structure Companies have one or more shareholders (also called members) who have invested money by subscribing for shares (or acquiring shares from an existing shareholder)
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