This ontology defines the basic mechanisms that establish legal personhood for judicial or artificial persons, specifically those that are corporate bodies, including bodies incorporated by equity, by guarantee, and by agreement.
Corporate Bodies Ontology
the instrument by which an entity is incorporated
is constituted by
the legal jurisdiction under which the legal entity is incorporated
is incorporated in
relates a stock corporation to the equity (in the form of shares) it issues through incorporation and subsequent corporate actions
issues equity
a not for profit corporation set up under specific state legislation to provide some stated societal benefit, and with some corresponding relaxation of the obligation to maximize shareholder return
benefit corporation
A body with legal personhood, incorporated through some agreement among the principals, and without equity or guarantee instruments which would isolate the principals from liability.
body incorporated through agreement
Incorporated entity without share capital, and in which the liability of its members is limited to the amount each one of them undertakes to contribute at the time the firm is wound up.
body incorporated with guarantee
The formal agreement between the principals of a body limited by guarantee.
body limited by guarantee principals agreement
a not for profit corporation set up under specific state legislation as a business entity for homeowners' associations
common interest development corporation
company incorporated by guarantee
a formal organization treated as an entity - an artificial person or legal entity distinct from its owners - created by or under the authority of the laws of a state or nation
corporation
a corporation whose objective is to make money, in other words, to ensure realization of a financial benefit such that the amount of revenue gained from a business activity exceeds the expenses, costs and taxes needed to sustain that activity
for profit corporation
A guarantee which is part of the means by which some incorporated entity is incorporated by guarantee.
incorporation guarantee
Some legal instrument by which some legal entity which is not a natural person is made to exist.
instrument of incorporation
a corporation approved by its jurisdictional oversight and taxing authorities as operating for educational, charitable, social, religious, civic or humanitarian purposes
not for profit corporation
a corporation that has shareholders (stockholders), each of whom receives a portion of the ownership of the corporation through shares of stock
stock corporation
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Copyright (c) 2013-2016 EDM Council, Inc.
Copyright (c) 2013-2016 Object Management Group, Inc.
http://www.omg.org/techprocess/ab/SpecificationMetadata/MITLicense
CorporateBodies.rdf
fibo-be-le-cb
This ontology defines the basic mechanisms that establish legal personhood for judicial or artificial persons, specifically those that are corporate bodies, including bodies incorporated by equity, by guarantee, and by agreement.
The http://www.omg.org/spec/EDMC-FIBO/BE/20131101/LegalEntities/CorporateBodies.rdf version of this ontology was modified per the issue resolutions identified in the FIBO BE 1.0 FTF report.
http://www.omg.org/spec/EDMC-FIBO/FND/
http://www.omg.org/spec/EDMC-FIBO/BE/LegalEntities/LegalPersons/
http://www.omg.org/spec/EDMC-FIBO/BE/LegalEntities/FormalBusinessOrganizations/
http://www.omg.org/spec/ODM/
http://www.w3.org/standards/techs/owl#w3c_all
the instrument by which an entity is incorporated
It is the laws of this jurisdiction that cause and allow the legal entity to exist and to incur debt and be sued at law as a legal entity.
the legal jurisdiction under which the legal entity is incorporated
relates a stock corporation to the equity (in the form of shares) it issues through incorporation and subsequent corporate actions
This is a US-specific type of non-profit corporation defined in recent legislation in a number of states. In California, for example, benefit corporations may be defined as public benefit or mutual benefit corporations, depending on their purpose.
a not for profit corporation set up under specific state legislation to provide some stated societal benefit, and with some corresponding relaxation of the obligation to maximize shareholder return
www.bcorporation.net
A body with legal personhood, incorporated through some agreement among the principals, and without equity or guarantee instruments which would isolate the principals from liability.
An LLP (in the UK) is an example of this, and is also a partnership. There, the LLP Document is the legal document which effectively constitutes the Partnership.
Incorporated entity without share capital, and in which the liability of its members is limited to the amount each one of them undertakes to contribute at the time the firm is wound up.
The profit motive is not the prime objective of the organization.
The formal agreement between the principals of a body limited by guarantee.
A common interest development is typically a type of housing, composed of individually owned units, such as condominiums, townhouses, or single-family homes, that share ownership of common areas, such as swimming pools, landscaping, and parking. Common interest developments (also known as community interest developments or CIDs) are managed by homeowners' associations.
http://www.dre.ca.gov/files/pdf/re39.pdf
http://www.nolo.com/dictionary/common-interest-development-term.html
a not for profit corporation set up under specific state legislation as a business entity for homeowners' associations
www.investorwords.com
A corporation has three distinguishing characteristics: (1) separation of ownership from management and general liability, i.e., its liability to creditors is limited to its resources, unlike some partnerships and sole proprietorships, (2) the ability to negotiate contracts and own property, and (3) transferable ownership, irrespective of changes in membership or the lifetimes of its stockholders.
A corporation is managed by or under the direction of a board of directors, which generally determines corporate policy. Officers manage the day-to-day affairs of the corporation.
Barron's Dictionary of Banking Terms, Sixth Edition, 2012, definition of corporation
a formal organization treated as an entity - an artificial person or legal entity distinct from its owners - created by or under the authority of the laws of a state or nation
body corporate
http://thelawdictionary.org/corporation/
a corporation whose objective is to make money, in other words, to ensure realization of a financial benefit such that the amount of revenue gained from a business activity exceeds the expenses, costs and taxes needed to sustain that activity
http://www.investopedia.com/terms/p/profit.asp
A guarantee which is part of the means by which some incorporated entity is incorporated by guarantee.
Some legal instrument by which some legal entity which is not a natural person is made to exist.
This may be the issuance of shares, the existence of some agreement, guaranties and so on.
A not for profit corporation is formed by incorporators, and has a board of directors and officers, but no shareholders. These incorporators, directors and officers may not receive a distribution of (any money from) profits, but officers and management may be paid reasonable salaries for services to the corporation.
a corporation approved by its jurisdictional oversight and taxing authorities as operating for educational, charitable, social, religious, civic or humanitarian purposes
http://legal-dictionary.thefreedictionary.com/nonprofit+corporation
non-profit corporation
The shares in a stock corporation may receive a return on their investment in the form of dividends. Shares are used for voting on matters of corporate policy or to elect directors, at the corporation's annual meeting and at other meetings of the corporation.
a corporation that has shareholders (stockholders), each of whom receives a portion of the ownership of the corporation through shares of stock
http://biztaxlaw.about.com/od/glossarys/g/stockcorp.htm
http://www.oecd.org/daf/ca/CorporateGovernanceFactbook.pdf