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LSDefine

Simple English definitions for legal terms

incorporate

Read a random definition: child's part

A quick definition of incorporate:

Term: Incorporate

Definition: Incorporating means creating a new company or organization. This is done by filling out special paperwork called the Articles of Incorporation and submitting it to the government. The Articles of Incorporation includes information about the company, like its purpose, location, and how many shares it has. Once the company is created, it becomes its own separate thing and the people who started it are no longer personally responsible for everything that happens. The company is usually identified by the letters "Inc." or "Ltd."

A more thorough explanation:

Definition: Incorporate (incorporation) is the legal process of creating a company or corporation. This involves filing the Articles of Incorporation (also known as the corporate charter) with the Secretary of State and listing the corporation's shareholders. The Articles of Incorporation typically include the corporation's purpose, the number and type of shares, its location, and its original capital structure. Once the corporation is established, its assets and income are separate from the personal assets and income of the shareholders. The corporation is usually identified as "Inc." or "Limited (Ltd.)".

Example 1: John wants to start a business selling handmade candles. He decides to incorporate his business to protect his personal assets from any potential lawsuits. John files the Articles of Incorporation with the Secretary of State and lists himself as the sole shareholder of the corporation.

Example 2: Sarah and her friends want to start a tech company. They decide to incorporate their business to raise capital and protect their personal assets. They file the Articles of Incorporation and list themselves as shareholders. The corporation is identified as "Tech Inc."

These examples illustrate how incorporating a business creates a separate legal entity that is distinct from its shareholders. This separation protects the personal assets of the shareholders from any liabilities or debts incurred by the corporation. Additionally, incorporating a business can make it easier to raise capital and attract investors.

incontrovertible evidence | incorporate by reference

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[] texaslawhopefully
12:49
@EvolBunny: You're stupid af. Did you read what he said. He said fucking WashU.
[] texaslawhopefully
12:50
And, yes, most people with a 170+ will go to the T20 because at the very least since the T20 pretty much all has a 170+ LSAT median they need at least 3k people a year with a 170+ to maintain those medians (given about 6k people enroll in the T20).
[] texaslawhopefully
12:50
And there's only 4k people a year with a 170+.
BulbasaurNoLikeCardio
12:50
@babycat: That KJD question is a legit one, I wonder if there is enough data out there to show it as there is data that makes people think URM is a point boost
HopefullyInLawSchool
12:52
I just got my second decision of the day (:
EvolBunny
12:52
you are a fucking idiot, Do you think every 170+ is in the t20? Some people want to inherit daddy's judge position and local connections and only needed a 155 but shit out a 173. Okay, go look at the schools yourself. Surely you will find ONLY 170s in the t20 and nowhere else! fucking tool. Also, there are only 4400ish people in the t14 and the median is like 171 lmfao they do not want ONLY 170+s
starfishies
12:52
unless you participated in a million clubs or had legit internships idk how kjds do so well honestly
starfishies
12:53
nothing against kjds just heard a ton of advice that you should work before applying
[] texaslawhopefully
12:53
@EvolBunny: I said the vast majority dumbass. There's only 4k people with a 170+ and 6k people in the T20. The lowest LSAT median in the T20 is 169, so yes the vast majority of people (as in 70ish percent) with a 170+ are going to the T14.
babycat
12:53
I think some of that comes from a feeling that law school is a major commitment and you should be sure about it moreso than the value of the work experience
babycat
12:54
@BulbasaurNoLikeCardio: right? would love to see some analysis on this
babycat
12:55
I feel like as you get more WE you have diminishing returns. Not sure someone with 20 years of work is valued more than 5 or 10 unless it's been ground-breaking stuff
babycat
12:57
realizing now the correct spelling of groundbreaking is unhyphenated. I knew it looked wrong
BulbasaurNoLikeCardio
12:57
I think it has to be proffesional or law related kind of work experience to mean anything significant. Entry level assistant jobs people get fresh from college has to be like ehhhh.
JumpySubsequentDolphin
12:58
@babycat: I think Dean z did a podcast on this
babycat
12:58
I don't really trust what she says 100% of the time. I think there's an impulse to say things because they sound nice and fair even if they're not true
EvolBunny
12:59
texas law, you are clearly a humanities idiot who never dealt with stats and i will no longer be engaging your dumbass on this topic
JumpySubsequentDolphin
12:59
oh yeah for sure
[] texaslawhopefully
12:59
@EvolBunny: that's rich coming from the person with a 163 LSAT score
[] texaslawhopefully
13:00
but, hey, if you can't understand medians, your loss
JumpySubsequentDolphin
13:00
don’t engage Texas not worth jt
BruceSutter
13:00
I think work experience helps in two different ways. One is showing maturity, and the other is doing something difficult/challenging.
BulbasaurNoLikeCardio
13:00
Dean Z can only speak to her school and when she is in charge. Does not apply to other schools fully. Talked to a few deans of admissions and they say ignore all the social media deans because they can't speak for how other schools operate
jackfrost11770
13:00
damn getting heated and yeah no worth engaging
babycat
13:00
Lmao I ignore all the social media deans already
BruceSutter
13:01
So you get points for any professional work experience just for maturity reasons, and more consideration if that work is difficult
BruceSutter
13:01
and maybe another consideration for if the work aligns with what you intend to do in law
babycat
13:01
I hate when St. John's emails me with a subject line that's like a TikTok trend or something. pissing me off
[] texaslawhopefully
13:01
I don't know Dean Z does have some helpful tidbits. I think in the KJD episode, she mentioned that she looked more for a why law for KJD's.
BulbasaurNoLikeCardio
13:02
@BruceSutter: I think the maturity factor is the biggest one playing against KJDs. WE shows you have more life experience and maybe more maturity to help. The level of work matters.
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