What Can a Corporation Do?

·         Ability to access the courts (to start lawsuits and be sued)

·         Ability to hold assets separately from its members’’ assets (the right to common treasury)

·         Ability to hire and fire employees (the right to engage agents)

·         Ability to enter into contracts (the right to a common seal)

·         Ability to govern the corporation’s internal affairs (right to make bylaws)

·         Ability to transfer shares without impacting the existing corporation

·         Ability to maintain a perpetual succession regardless of the withdrawal or removal of any of its members

·         Ability to limit the liability of stakeholders