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Topics: Corporation, Stock, Corporations law Pages: 3 (693 words) Published: September 22, 2013
CLASSIFICATION OF CORPORATION
BASED ON THE SOURCE OF CAPITAL
Stock corporation is an entity where capital is in the form of capital stock divided into shares Corporate earnings may be distributed to shareholders as dividends. Non-stock corporation is one where no part of its income is distributable as dividends to members , trustees , or officers. BASED ON THE TYPE OF OWNERSHIP

Public corporation is formed or organized for the government or a portion of the state. Private corporation is formed for private purpose or benefit. BASED ON THEIR RELATION TO OTHER CORPORATION
Parent corporation is one which owns controlling interest in another corporation , by more than 50 %. Subsidiary corporation is the investee corporation in which the parent corporation has controlling interest. BASED ON THEIR RELATION TO OTHER CORPORATION

Parent corporation is one which owns controlling interest in another corporation , by more than 50 %. Subsidiary corporation is the investee corporation in which the parent corporation has controlling interest. BASED ON THEIR COUNTRY OF ORIGIN

Domestic corporation is created under the Philippine laws.
Foreign corporation is formed , organized under existing laws other that the Philippines. BASED ON ACCEPTABLE STOCKHOLDERS
Close corporation is limited to selected persons or members of a family. Open corporation is open to any person who may intend to become a stockholder or member of the corporation REGISTRATION OF CORPORATION (STEPS)

Verification of corporate name with SEC
Drafting and execution of the articles of incorporation
Deposit of cash received for subscribed shares of stocks in a banking institution in the name of the temporary treasurer , in trust for and to the credit of the corporation Filling of the articles of incorporation

Payment of filing and publication fees
Issuance by SEC of the certificate of incorporation
Registration of the corporate name with the DTI
Secure municipal or city licenses with the local...
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