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The main emphasis of state corporate law is to regulate the creation, organization, and dissolution of a corporation, and it deals with the formation and operations of corporations and its related to commercial and contract law. State corporation laws require articles of incorporation to document the corporation's creation and to provide provisions regarding the management of internal affairs. A corporation is a legal entity created under the laws of the state it’s incorporated with (Business Law). According to Business Law: Texts and Cases, a
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Unformatted text preview: corporation creates a legal or “artificial person” or entity that has standing to sue and be sued, enter into contracts, and perform other duties necessary to maintain a business, separate from its stockholders. The main goal of corporation is to join together the efforts and resources of a large number of individuals for the purpose of producing greater returns than those persons could have obtained individually (Business Law)....
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