Rearrangements are defined as situations where a corporation replaces a significant component of an asset with a new component that shares the same properties as the old component.
The legal status of a company is distinct from that of its shareholders. Many of the same legal rights and obligations apply to corporations as to people. They are able to sign contracts, make loans and take loans, sue and be sued, hire staff, possess assets, and pay taxes. A corporation is sometimes referred to as a "legal person."
Corporations make up the majority of significant companies, like Toy-ota Mot-or Corp., Coca-Cola Co., and Micro-soft Corp. Some businesses operate both under their own names and under different trade names, such as Alpha-bet Inc., which is best known for operating as Goo-gle.
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