How may a corporation be created in the Philippines?

Prepare for your Partnership and Corporation Exam with engaging flashcards and multiple-choice questions. Each question comes with hints and detailed explanations. Boost your confidence and ace the exam!

A corporation in the Philippines can be created by either the operation of general corporation law or special law. General corporation law refers to the overarching legal framework provided by the Corporation Code of the Philippines, which outlines the necessary steps and requirements for forming a corporation, such as filing articles of incorporation and complying with registration processes.

On the other hand, special laws may apply to specific types of corporations or particular industries, and they provide additional rules that may impact the incorporation process. The ability to create a corporation through both general and special laws recognizes the flexible approach to corporate formation in the Philippines, allowing for varied corporate structures based on the nature or purpose of the entity.

This comprehensive approach ensures that all corporations, regardless of their specific characteristics or needs, can be established legally under the appropriate framework provided by Philippine law.

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