Scott is part of a group of investors who want to start a corporation.
1. Scott is part of a group of investors who want to start a corporation.
a. With respect to the corporation, what is Scott’s and the other investors interests? In other words, Scott and the other investors will be known as ______________________.
b. They have to file a document with the State Secretary of State’s office. What is the name of this document and what type of information is typically included in this document?
2. Is it possible to hold Scott or any of the other other shareholderspersonally liable for the obligations of the corporation?Explain your answer.
3. Eventually, Scott’s corporation begins to issue bonds in addition to stocks. What is the difference between the two?
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