【正文】 y, lootives and rolling stock.In contrast, a nonoperating subsidiary would exist on paper only (. stocks, bonds, articles of incorporation) and would use the identity and rolling stock of the parent pany.BranchA branch is a woody structural member connected to but not part of the central trunk of a tree (or sometimes a shrub). Large branches are known as boughs and small branches are known as twigs.While branches can be nearly horizontal, vertical, or diagonal, the majority of trees have upwardly diagonal branches.Articles of IncorporationThe Articles of Incorporation (sometimes also referred to as the Certificate of Incorporation or the Corporate Charter) are the primary rules governing the management of a corporation in the United States, and are filed with a state or other regulatory agency. The equivalent in the United Kingdom and various other countries is Articles of Association.BylawA bylaw (sometimes also spelled bylaw or byelaw) most monly refers to a city or municipal law or ordinance, passed under the authority of a charter or provincial/state law specifying what things may be regulated by the municipality.LiabilityIn the most general sense, a liability is anything that is a hindrance, or puts individuals at a disadvantage. It can also be used as a slang term to describe someone that puts a team or group of which they are a member at a disadvantage, and would thus be better off without.Capital (economics)In economics, capital or capital goods or real capital refers to factors of production used to create goods or services that are not themselves significantly consumed (though they may depreciate) in the production process. Capital goods may be acquired with money or financial capital. In finance and accounting, capital generally refers to financial wealth, especially that used to start or maintain a business.Authorised capitalThe authorised capital of a pany (sometimes referred to as the authorised share capital or the nominal capital, particularly in the United States) is the maximum amount of share capital that the pany is authorised by its constitutional documents to issue to shareholders. Part of the authorised capital can (and frequently does) remain unissued.The part of the authorised capital which has been issued to shareholders is referred to as the issued share capital of the pany.Share capitalShare capital or issued capital (UK English) or capital stock (US English)[1] refers to the portion of a pany39。s body, property, or legal rights, or possibly, to breach a duty owed under statute. One who mits a tortious act is called a tortfeasor.[3] Torts is one of the American Bar Association mandatory first year law school courses.[4]Piercing the corporate veilThe corporate law concept of piercing (lifting) the corporate veil describes a legal decision where a shareholder or director of a corporation is held liable for the debts or liabilities of the corporation despite the general principle that shareholders are immune from suits in contract or tort that otherwise would hold only the corporation liable. This doctrine is also known as disregarding the corporate entity. The phrase relies on a metaphor of a veil that represents the veneer of formalities and dignities that protect a corporation, which can be disregarded at will when the situation warrants looking beyond the legal fiction of a corporate person to the reality of other persons or entities who would otherwise be protected by the corporate fiction.Piercing the corporate veil is not the only means by which a director or officer of a corporation can be held liable for the actions of the corporation. Liability can be established through conventional theories of contract, agency, or tort law. For example, in situations where a director or officer acting on behalf of a corporation personally mits a tort, he and the corporation are jointly liable and it is unnecessary to discuss the issue of piercing the corporate veil.The doctrine is often used in cases where liability is found, but the corporation is insolvent.Parent panyA parent pany is a pany that owns enough voting stock in another firm to control management and operations by influencing or electing its board of directors。tortious39。s good faith effort, as described below.[2]CommissionerCommissioner is in principal the title given to the holder of a mission, in the sense of a mandate, whether individually or shared, notably as member of a collegial mission.In practice the title of missioner has evolved to include a variety of senior officials, often sitting on a specific mission. In particular, missioner frequently refers to senior police or government officials. A High Commissioner is equivalent to an ambassador, between Commonwealth states sharing the same Monarch as head of state.The title is also sometimes given to senior officials in the private sector, for instance many North American sports leagues.PartnershipA partnership is a type of business entity in which partners (owners) share with each other the profits or losses of the business undertaking in which all have invested. Partnerships are often favored over corporations for taxation purposes, as the partnership structure does not generally incur a tax on profits before it is distributed to the partners (. there is no dividend tax levied). However, depending on the partnership structure and the jurisdiction in which it operates, owners of a partnership may be exposed to greater personal liability than they would as shareholders of a corporation.Joint and several liabilityUnder joint and several liability, a claimant may pursue an obligation against any one party as if they were jointly liable and it bees the responsibility of the defendants to sort out their respective proportions of liability and payment. This means that if the claimant pursues one defendant and receives payment, that defendant must then pursue the other obligors for a c