65) At the same time Delaware recognized the need for special statutory provisions for close corporations
, and adopted a special subchapter covering them.
Aside from the particular context of minority shareholders in close corporations
, we argue that they would not and, therefore, such an overarching default rule in corporate law is inefficient.
The "reasonable expectations" rubric has lessons outside the close corporation
Therefore, there may be significant concerns in a close corporation
Despite [the] apparent opportunity for ex ante bargaining, it is widely recognized that close corporation
investors typically fail to engage in such contracting.
Because it is uncommon for a corporation to statutorily elect to become a close corporation
, this article will not analyze or discuss these state statutes.
This document explores the requirements for enforcement of shareholders' agreements in the context of the close corporation
In order to form as a statutory close corporation
, the entity may not have more than a specified number of shareholders as mandated by the state.
Indeed, Delaware, like most states, has a specialized close corporation
By requiring that the plaintiff prove the stricter test of complete dominance, the court has effectively precluded the tolling of the statute of limitations in close corporation
In the application Pan Fish underlines its commitment to create a close corporation
with Norwegian research and authorities to create a long-term positive development when it comes to the industry development, value creation and impact on job creation.
15) The court agreed with the minority stockholder and, noting the distinguishing characteristics of closely held corporations, held that the stockholders in a close corporation
owed each other the same fiduciary duty as is owed by one partner to another in a partnership.