What does CEO stand for?
AnswerChief Executive Officer
The CEO is the top executive running the company.
Business · Facts & stats
Corporation facts & stats
7 fact-checked facts about corporations and how businesses are structured, each with the reason behind it. 5 more are in today's round and join this page after it closes.
The basics
What does LLC stand for?
AnswerLimited Liability Company
An LLC is a common US business structure.
Going deeper
What does 'limited liability' generally mean for a company's owners?
AnswerTheir personal assets are generally shielded from the company's debts
Owners' losses are generally limited to what they invested.
Which US state is famous as the place of incorporation for most large US public companies?
AnswerDelaware
Delaware's corporate law and courts attract many companies.
What are articles of incorporation?
AnswerThe founding document filed to create a corporation
They are filed with the state to form the corporation.
Expert level
Which 1819 US Supreme Court case held that a corporate charter is a protected contract?
AnswerDartmouth College v. Woodward
The Court ruled New Hampshire could not alter Dartmouth's charter.
In which year was the Hudson's Bay Company chartered?
Answer1670
England granted its royal charter in 1670.
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