A charter is a formal document granted by a governing body that establishes a corporate entity, often detailing its rights and privileges. It can also refer to hiring a vehicle for exclusive use.
A Chartered Company is a type of company that is incorporated through a Royal Charter, distinguishing it from companies incorporated under general company law or private acts of parliament.
Incorporation is the process by which a company is officially registered and recognized as a legal entity separate from its owners, allowing it to own assets, incur liabilities, and engage in contracts.
Lifting the veil of incorporation is an exceptional legal process where the separate legal entity principle of a corporation is disregarded to hold its members or directors personally liable, often applied in cases of wrongful or fraudulent trading.
A registered company is a formal business entity that has been incorporated in England, Wales, or Scotland through a registration process with the Registrar of Companies. It can be a limited or unlimited company and may operate as either a private or public entity.
In the United Kingdom, the term 'registered name' refers to the official name under which a company is incorporated. A company cannot be legally formed without this name, which must be included in its constitutional documents. There are specific legal restrictions and obligations regarding the use, change, and display of a company's registered name.
A shell corporation is a company that is incorporated but has no significant assets or operations. It may serve legitimate purposes, such as obtaining financing, but can also be used in fraudulent schemes.
