Utah Corporation Attorney
What is a Corporation?
A typical domestic corporation in Utah is a limited liability company registered in Utah that is owned by shareholders and controlled by a board of directors that is appointed by the shareholders. A domestic corporation is a separate legal entity with rights and obligations unique from its members. Utah allows for different types of corporations, and many businesses and individuals set up corporate entities to limit liability. For instance, if a corporation fails, the employees may lose jobs and shareholders may lose their money invested, but employees and shareholders usually will not be held liable to the corporation’s creditors. However, this is not always the case and it is worth the time and money to talk with an experienced Utah business attorney experienced with business entity formation with domestic and foreign corporations.
Corporations are People
Corporations are created through registration. Although not natural persons, Utah law has established rights and obligations for corporations similar to people. Also, corporations can die through insolvency by creditors forcing liquidation of assets, dissolution by court order or shareholders through statutory protocol. A lawyer in Utah experienced with assisting corporations can help you take the proper steps.
See article, “I heard “corporations are people”. Is that correct?”
Utah Corporation Attorney Team at Pearson, Butler & Carson
The Utah corporation attorney team at Pearson, Butler & Carson, PLLC advises small and medium businesses, which include domestic and foreign corporations. Our lawyers provide counsel for corporations in all stages, including corporate entity formation, operation, expansion through acquisition and merger, dissolution, and wind down.
With offices conveniently located in the Salt Lake City area, including South Jordan and Layton, call a Utah lawyer at Pearson, Butler & Carson today for a consultation at (801) 495-4104.