De jure is just a fancy way of saying something like “officially.”
A de jure corporation meets all the requirements to be a corporation under the law. Its owners have filed all the paperwork, paid all the fees and met all the rules for the jurisdiction it will exist under.
The concept provides a contrast to “de facto,” which is something that exists in fact, even if it didn’t do it through an official track. If you’ve lived with your romantic partner for 20 years, have raised two kids together, have joint bank accounts, and go to all of each other’s family and work functions, you are de facto married. If you also go to a church or the city hall, say some specific words and get a document from the state, then you become de jure married. (Of the jury, or "as judged" in Latin.)
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Finance: What is an LLC?4 Views
finance a la shmoop. what is an LLC? LLC no that's not a rapper, that's a limited
liability company or look as professionals in the business pronounce
it. well why do you want one? because limiting your liability is a [man explains]
good thing if you're the one potentially liable for that stooge who slips on a
banana peel in your lobby waiting area and then Sue's you and wins. if you start
building your own company as an individual and not as an LLC and you get
sued for whatever, and you lose well you could lose everything you own.
that is the lawyers will come after your house your car your poodle your signed
Mila Kunis photograph collection, and legally well they'll be entitled to take
all of it. if you have existed under the legal structure of an LLC however, well [legal structures pictured]
the most you can be liable for is the assets of the business itself. yes
they'll take the company computer the remaining 17 months of lease on the
company building, and all your staplers and posted thingies but legally they
won't be able to go after your home your car your poodle or your autograph
collection. Mila is safe whew. so LLC's are a good thing they cost only a few
hundred bucks to set up these days, hi LegalZoom. so before you start up a lava
lamp company of your own think about setting up an LLC first. Mila and your [lava lamps in a row]
poodle gregory will thank you for it.
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What is a corporation? Corporations are legal bodies. Bodies exist in various forms: LLC (Limited Liability Corporation), S-Corporation (now with p...