Managing a corporation may be complicated especially for the newly created one and for a corporation which may venture to entering into a contract with another corporation. To effectively capitalize on the powers granted to the corporation by law (Revised Corporation Code), knowing or revisiting its powers conferred by law is essential.
I. GENERAL POWERS OF A CORPORATION
- To sue and be sued in its corporate name
- To have perpetual existence unless the certificate of incorporation provides otherwise
- To adopt and use a corporate seal
- To amend its articles of incorporation
- To adopt bylaws
- In case of stock corporations, to issue or sell stocks to subscribers and to admit members to the corporation, it be a nonstock corporation
- To purchase, receive, take or grant, hold, convey, sell, lease, pledge, mortgage, and otherwise deal with such real and personal property, including securities and bonds of other corporations, as the transaction of the lawful business of the corporation may reasonably and necessarily require, subject to the limitations prescribed by law and the constitution
- To enter into a partnership, joint venture, merger, consolidation, or any other commercial agreement with natural and juridical persons
- To make reasonable donations including those for the public welfare or for hospital, charitable, cultural, scientific, civic, or similar purpose
- To establish pension, retirement, and other plans for the benefit of its directors, trustees, officers, and employees
- To exercise such other powers as may be essential or necessary to carry out its purpose or purposes as stated in the articles of incorporation.
II. SPECIAL POWERS OF A CORPORATION
- Power to extend or shorten corporate term
- Power to increase or decrease capital stock; incur, create or increase bonded indebtedness
- Power to deny preemptive right
- Power to sell or dispose assets
- Power to acquire own shares
- Power to invest corporate funds in another corporation or business or for any other purpose
- Power to declare dividends
- Power to enter into management contract
III. Open Forum
- Morning Snacks
- Hand-outs
- FREE LEGAL CONSULTATION with the Speaker at the end of the seminar
TRAINING LOCATION
Unit LG-3A Seneca Plaza, 1152 E. Rodriguez Sr. Avenue
New Manila, Quezon City
CONTACT DETAILS
Ms. Ely Denaga
Contact No. (02) 7745-4391
Mobile: 09778050020 | 09175771536
Email: seminars@alburolaw.com | trainings@alburolaw.com
Meet Our Speaker!
Atty. Mylene A. Gadiano is a practicing lawyer, and the Senior Assistant Manager of Alburo Alburo & Associates Law Offices, a law firm which specializes in business law and labor law.
Read more . . .