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Corporate Law

Browse 13 glossary entries in the Corporate Law category, with short plain-English descriptions and direct links to the full term pages.

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executive officer

Think of an executive officer as the parent who signs permission slips for all the kids at a party.

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fiduciary duty

It is like when you promise your sibling you will guard their favorite toy; even if a cooler toy comes along, you must still protect theirs first.

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financial officer

The financial officer acts like a parent checking your allowance: they make sure every dollar spent matches what was promised, just like reading pe...

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general counsel

Think of them like the ultimate rule enforcer on a playground; they make sure everyone follows the rules, just like when your mom says you must sig...

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holding company

Think of it like a big owner who holds permission slips for several smaller friends.

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joint venture

Think of a joint venture like two kids sharing a single library book; they each promise to take care of it and split any late fees together.

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limited liability

Limited liability is like having a permission slip for your friend’s birthday party; even if they break something expensive, you only have to pay u...

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limited liability company

It functions like a special permission slip for your business.

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limited partnership

Think of it like a permission slip: the parents sign off on the main activities, but the kid just pays for the field trip without running the whole...

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managing director

The managing director is like the teacher who gets to decide which recess rules apply for the whole school.

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managing member

Think of it like being given permission slips for every class at school.

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member

A member is like someone who gets a permission slip for a club.

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merger

It's like when you promise your friend you will be at their house (Entity A) and they move into yours (Entity B).

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