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Wiley incorporates his business as Wiley’s Wire Inc. in Arizona. He and his group of shareholders intend to make a profit from their sales of fencing wire. Wiley’s is

Most states apply to a limited liability company (LLC) formed in another state the law of the state where the LLC currently does business.​

Cumulative voting refers to the accumulation of proposals presented annually for a shareholders’ vote.

Any business—except a sole proprietorship—must comply with business registration and licensing requirements.

Wiley incorporates his business as Wiley’s Wire Inc. in Arizona. He and his group of shareholders intend to make a profit from their sales of fencing wire. Wiley’s is

Most states apply to a limited liability company (LLC) formed in another state the law of the state where the LLC currently does business.​

Express powers of a corporation can be found in state corporation statutes, as well as other documents.

​In the absence of express constitutional, statutory, or other provisions, the corporation has no implied powers.

A foreign corporation normally does not need a certificate of authority to sell goods or services via the Internet.

The franchise agreement may specify whether the premises for the business must be leased or purchased outright.