Corporate Law Chicago IL

Corporate law is the law that governs corporations and is part of the broader category of companies law, which applies to all types of businesses, like partnerships and trusts. But corporate law is more specific and applies to how shareholders, directors, employees and other stakeholders interact with each other and the company. The law deals with firms that are incorporated and display the characteristics of a corporation, which are separate legal personality of the corporation, limited liability of the shareholders, transferable shares, delegated management, and investor ownership. The last characteristic is not uniformly accepted, but for the most part companies that fit these descriptions are subject to corporate law.