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Simple English definitions for legal terms

controlled company

Read a random definition: Emancipation of minors - laws

A quick definition of controlled company:

A controlled company is a type of business that is owned and controlled by a person or group who owns most of the company's voting stock. This means that the person or group has a lot of power in making decisions for the company. Other types of companies include those that insure against losses caused by third parties, those that hold and manage diverse assets, and those that examine real estate titles and issue title insurance.

A more thorough explanation:

A controlled company is a type of company that is under the control of an individual, group, or corporation that owns most of the company's voting stock. This means that the controlling entity has the power to make important decisions for the company, such as electing the board of directors and approving major business transactions.

For example, if a corporation owns 80% of the voting stock in a company, it is considered a controlled company because it has the power to make decisions for the company.

Another example is a family-owned business where one family member owns a majority of the voting stock and therefore has control over the company's decisions.

Controlled companies can be beneficial for the controlling entity because they can make decisions that benefit their own interests without having to consider the opinions of other shareholders. However, this can also lead to conflicts of interest and potential abuse of power.

contributory pension plan | controlled corporate groups

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15:38
Isn’t uchicago like Top 4 tho
choosingpeace
15:38
@cumsock: they said there's like nothing to do there lol
choosingpeace
15:38
ive never been so i was just like ohhh
texaslawhopefully
15:38
UChicago is number one
^ period
u know it was a double thing. I missed II and my gf didn't want to live in the midwest anymore
15:39
But it’s fucking uchicago thooo LOL
15:39
I
15:40
Makes sense tho
cumsock
15:40
@choosingpeace: there’s plenty to do in Philly 😂 it’s a giant city
So after missing the II, I was like whatever. Maybe it's a sign to withdraw
nah making decisions off the gf is out of pocket
nahhhhh we been together since 10th grade
texaslawhopefully
15:40
I guess it depends what your goals are. If it's generic biglaw, CLS will get you the same outcome
6 yrs on January 30th
lilypadfrog
15:40
awwww <3 i love love
I also like CLS for liberal clerking. approx 41 FCOA clerks per yr
It's there if I excel. if not then I'm chill with sticking to BL
texaslawhopefully
15:41
CLS is not even close to Chicago for clerking lmao
choosingpeace
15:41
wait would yall pick CLS or penn?
I didn't apply to either but I would pick penn
15:42
penn bc im in state
no no it's not. But I wouldn't clerk conservative, so idk about Chi #s for myself
cumsock
15:42
Penn
texaslawhopefully
15:42
I guess that's fair. From what I've heard UChicago for conservatives is on par w/ HYS for clerkships
texaslawhopefully
15:42
not sure about for liberals
cumsock
15:43
They’re very similar tho
cumsock
15:43
Both t6 ivies
Is that NYU disrespect???? NYU out the t-6?
15:44
Penn because my college friends who mentored me go there
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