What action must the Securities and Exchange SEC take if an election is not held as scheduled due to unjustified reasons? If a scheduled election is not held, the non-holding and the reasons must be reported to the SEC within thirty (30) days, specifying a new election date that is no later than sixty (60) […]
What percentage of stock or membership is required to constitute a quorum for the election of directors or trustees? For the election of directors or trustees, there must be present, either in person or through a written proxy, the owners of a majority of the outstanding capital stock (SEC. 23, Revised Corporation Code of the
Directors and trustees of a corporation are not automatically entitled to compensation for their services.
Compensation of Directors or Trustees of a Corporation Read More »
The Revised Corporation Code allows one (1) incorporator for a One Person Corporation (OPC) while a corporation that is not an OPC requires at least two (2) but not more than fifteen (15) incorporators.
How Many Incorporators are Required to Form a Corporation? Read More »
There is NO minimum number of shares of stock required for a corporation to possess. However, certain industries or corporations with foreign equity are required to have a minimum paid-up capital.
What is the Minimum Number of Shares of Stock to Form a Corporation? Read More »
This article is all about corporate proxies, their use, and the laws and regulations that govern them in the Philippines.
Foreign investors who wish to engage in retail trade in the Philippines should have a minimum paid-up capital of Twenty-Five Million Pesos (P25,000,000).
Bringing in Foreign Investors in Retail Trade Read More »
Directors are elected by the stockholders of a corporation in an election held where the owners of majority of the outstanding capital stock, whether in person or through proxy, are present.
How to Elect Directors of a Corporation Read More »
A trade name pertains to the identity of a company and is given protection by the law even prior to or without registration, against any unlawful act committed by third parties. The right to the exclusive use of a corporate name with freedom from infringement by similarity is determined by priority of adoption. The injured company can seek relief from the SEC.
Protection of Trade Names Read More »
The General Information Sheet is a document embodying certain information about the corporation which is signed and attested to by the Corporate Secretary and usually filed annually with the SEC.
What is a General Information Sheet? Read More »
