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113-594: A collegian may be: a member of a college One of the Collegians or Collegiants , a religious sect founded in Holland in 1619 an inmate in a prison (slang) See also [ edit ] The Collegian (disambiguation) , name of several college and school newspapers Old Collegians (disambiguation) Topics referred to by the same term [REDACTED] This disambiguation page lists articles associated with
226-466: A Bachelor of Education (BEd) degree. Corporation A corporation is an organization —usually a group of people or a company —authorized by the state to act as a single entity (a legal entity recognized by private and public law as "born out of statute"; a legal person in a legal context) and recognized as such in law for certain purposes. Early incorporated entities were established by charter (i.e., by an ad hoc act granted by
339-519: A bachelor's degree . Often, these are entirely undergraduate institutions, although some have graduate school programs. Four-year institutions in the U.S. that emphasize a liberal arts curriculum are known as liberal arts colleges . Until the 20th century, liberal arts, law, medicine, theology, and divinity were about the only form of higher education available in the United States. These schools have traditionally emphasized instruction at
452-593: A bachelor's degree . What often distinguishes a university is having, in addition, one or more graduate schools engaged in both teaching graduate classes and in research. Often these would be called a School of Law or School of Medicine, (but may also be called a college of law, or a faculty of law). An exception is Vincennes University , Indiana , which is styled and chartered as a "university" even though almost all of its academic programs lead only to two-year associate degrees. Some institutions, such as Dartmouth College and The College of William & Mary , have retained
565-492: A separate legal person was mainly administrative, as a unified entity under which the rights and duties of all investors and managers could be channeled. However, there was still no limited liability and company members could still be held responsible for unlimited losses by the company. The next, crucial development, then, was the Limited Liability Act 1855 , passed at the behest of the then Vice President of
678-461: A state school . Melbourne Grammar School , Cranbrook School, Sydney and The King's School, Parramatta are considered colleges. There has also been a recent trend to rename or create government secondary schools as "colleges". In the state of Victoria , some state high schools are referred to as secondary colleges , although the pre-eminent government secondary school for boys in Melbourne
791-643: A Royal Charter. Examples include an electoral college , the College of Arms , a college of canons , and the College of Cardinals . Other collegiate bodies include professional associations, particularly in medicine and allied professions. In the UK these include the Royal College of Nursing and the Royal College of Physicians . Examples in the United States include the American College of Physicians ,
904-400: A charter granted by the government. As explained above, such charters were often enacted as private bills . Today, a corporation is formed, or incorporated , by registering with the state, province, or national government and regulated by the laws enacted by that government. Registration is the main prerequisite to the corporation's assumption of limited liability. The law sometimes requires
1017-573: A college was a form of corporation or corporate body, an artificial legal person (body/corpus) with its own legal personality, with the capacity to enter into legal contracts, to sue and be sued. In mediaeval England there were colleges of priests, for example in chantry chapels ; modern survivals include the Royal College of Surgeons in England (originally the Guild of Surgeons Within the City of London),
1130-581: A college. Institutions accredited by the Council for Higher Education in Israel (CHE) to confer a bachelor's degree are called "Academic Colleges" ( Hebrew : מִכְלָלָה , romanized : Mikhlala ; plural Hebrew : מכללות , romanized : Mikhlalot ). These colleges (at least 4 for 2012) may also offer master's degrees and act as Research facilities. There are also over twenty teacher training colleges or seminaries, most of which may award only
1243-417: A complicated form of the word "college" which avoids the usual "post-secondary" connotation. This is because these secondary schools have traditionally focused on academic, rather than vocational, subjects and ability levels (for example, collegiates offered Latin while vocational schools offered technical courses). Some private secondary schools (such as Upper Canada College , Vancouver College ) choose to use
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#17327728947611356-489: A corporation are typically controlled by individuals appointed by the members. In some cases, this will be a single individual but more commonly corporations are controlled by a committee or by committees. Broadly speaking, there are two kinds of committee structure. In countries with co-determination (such as in Germany ), workers elect a fixed fraction of the corporation's board. Historically, corporations were created by
1469-436: A corporation as: a collection of many individuals united into one body, under a special denomination, having perpetual succession under an artificial form, and vested, by the policy of the law, with the capacity of acting, in several respects, as an individual, particularly of taking and granting property, of contracting obligations, and of suing and being sued, of enjoying privileges and immunities in common, and of exercising
1582-558: A corporation can be classified as aggregate (the subject of this article) or sole (a legal entity consisting of a single incorporated office occupied by a single natural person ). Registered corporations have legal personality recognized by local authorities and their shares are owned by shareholders whose liability is generally limited to their investment. One of the attractive early advantages business corporations offered to their investors , compared to earlier business entities like sole proprietorships and joint partnerships ,
1695-439: A corporation; shareholders instead elect or appoint a board of directors to control the corporation in a fiduciary capacity. In most circumstances, a shareholder may also serve as a director or officer of a corporation. Countries with co-determination employ the practice of workers of an enterprise having the right to vote for representatives on the board of directors in a company. The word "corporation" derives from corpus ,
1808-424: A distinct name. Historically, some corporations were named after the members of their boards of directors: for example, the " President and Fellows of Harvard College " is the name of one of the two governing boards of Harvard University , but it is also the exact name under which Harvard was legally incorporated. Nowadays, corporations in most jurisdictions have a distinct name that does not need to make reference to
1921-658: A higher degree in the same university once the program it is completed. But in Chile, the term "college" is not usually used for tertiary education , but is used mainly in the name of some private bilingual schools , corresponding to levels 0, 1 and 2 of the ISCED 2011 . Some examples are they Santiago College , Saint George's College , among others. In the United States, there were 5,916 post-secondary institutions (universities and colleges) as of 2020–21, having peaked at 7,253 in 2012–13 and fallen every year since. A "college" in
2034-510: A large number. The first liberal arts and sciences college in India was "Cottayam College" or the "Syrian College", Kerala in 1815. The First inter linguistic residential education institution in Asia was started at this college. At present it is a Theological seminary which is popularly known as Orthodox Theological Seminary or Old Seminary. After that, CMS College, Kottayam, established in 1817, and
2147-399: A monarch or passed by a parliament or legislature). Most jurisdictions now allow the creation of new corporations through registration . Corporations come in many different types but are usually divided by the law of the jurisdiction where they are chartered based on two aspects: whether they can issue stock , or whether they are formed to make a profit . Depending on the number of owners,
2260-400: A new term has been introduced that is Autonomous Institutes & Colleges. An autonomous Colleges are colleges which need to be affiliated to a certain university. These colleges can conduct their own admission procedure, examination syllabus, fees structure etc. However, at the end of course completion, they cannot issue their own degree or diploma. The final degree or diploma is issued by
2373-537: A partnership arose. Early guilds and livery companies were also often involved in the regulation of competition between traders. Dutch and English chartered companies, such as the Dutch East India Company (also known by its Dutch initials: VOC) and the Hudson's Bay Company , were created to lead the colonial ventures of European nations in the 17th century. Acting under a charter sanctioned by
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#17327728947612486-490: A partnership or some other form of collective ownership (in the United States it can be used by a sole proprietorship but this is not generally the case elsewhere). Despite not being human beings, corporations have been ruled legal persons in a few countries, and have many of the same rights as natural persons do. For example, a corporation can own property, and can sue or be sued for as long as it exists. Corporations can exercise human rights against real individuals and
2599-481: A private act to allow an individual to represent the whole in legal proceedings, this was a narrow and necessarily costly expedient, allowed only to established companies. Then, in 1843, William Gladstone became the chairman of a Parliamentary Committee on Joint Stock Companies, which led to the Joint Stock Companies Act 1844 , regarded as the first modern piece of company law. The Act created
2712-466: A proliferation of laws allowing for the creation of corporations by registration across the world, which helped to drive economic booms in many countries before and after World War I. Another major post World War I shift was toward the development of conglomerates , in which large corporations purchased smaller corporations to expand their industrial base. Starting in the 1980s, many countries with large state-owned corporations moved toward privatization ,
2825-479: A regional university. The colleges offer programmes leading to degrees of that university. Colleges may be either Autonomous or non-autonomous. Autonomous Colleges are empowered to establish their own syllabus, and conduct and assess their own examinations; in non-autonomous colleges, examinations are conducted by the university, at the same time for all colleges under its affiliation. There are several hundred universities and each university has affiliated colleges, often
2938-470: A training institution that awards trade qualifications, a higher-education provider that does not have university status (often without its own degree-awarding powers), or a constituent part of a university . In the United States , a college may offer undergraduate programs – either as an independent institution or as the undergraduate program of a university – or it may be a residential college of
3051-450: A university or a community college , referring to (primarily public) higher education institutions that aim to provide affordable and accessible education, usually limited to two-year associate degrees . The word is generally also used as a synonym for a university in the US. Colleges in countries such as France , Belgium , and Switzerland provide secondary education . The word "college"
3164-958: A variety of political rights, more or less extensive, according to the design of its institution, or the powers conferred upon it, either at the time of its creation or at any subsequent period of its existence. Due to the late 18th century abandonment of mercantilist economic theory and the rise of classical liberalism and laissez-faire economic theory due to a revolution in economics led by Adam Smith and other economists, corporations transitioned from being government or guild affiliated entities to being public and private economic entities free of governmental directions. Smith wrote in his 1776 work The Wealth of Nations that mass corporate activity could not match private entrepreneurship, because people in charge of others' money would not exercise as much care as they would with their own. The British Bubble Act 1720s prohibition on establishing companies remained in force until its repeal in 1825. By this point,
3277-481: Is CEGEP ( Collège d'enseignement général et professionnel , "college of general and professional education"). They are collegiate-level institutions that a student typically enrols in if they wish to continue onto university in the Quebec education system , or to learn a trade. In Ontario and Alberta , there are also institutions that are designated university colleges , which only grant undergraduate degrees. This
3390-657: Is a military college which trains officers for the Canadian Armed Forces . The institution is a full-fledged university, with the authority to issue graduate degrees, although it continues to word the term college in its name. The institution's sister schools, Royal Military College Saint-Jean also uses the term college in its name, although it academic offering is akin to a CEGEP institution in Quebec. A number of post-secondary art schools in Canada formerly used
3503-561: Is also, as in the United Kingdom, used for a constituent semi-autonomous part of a larger university but generally organized on academic rather than residential lines. For example, at many institutions, the undergraduate portion of the university can be briefly referred to as the college (such as The College of the University of Chicago , Harvard College at Harvard , or Columbia College at Columbia ) while at others, such as
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3616-404: Is an educational institution or a constituent part of one. A college may be a degree -awarding tertiary educational institution, a part of a collegiate or federal university , an institution offering vocational education , a further education institution, or a secondary school . In most of the world, a college may be a high school or secondary school, a college of further education ,
3729-631: Is an educational institution in England , Wales , Northern Ireland , Belize , the Caribbean , Malta , Norway , Brunei , and Southern Africa , among others, where students aged 16 to 19 typically study for advanced school-level qualifications, such as A-levels , BTEC , HND or its equivalent and the International Baccalaureate Diploma , or school-level qualifications such as GCSEs . In Singapore and India , this
3842-473: Is authorized to issue, and the names and addresses of directors. Once the articles are approved, the corporation's directors meet to create bylaws that govern the internal functions of the corporation, such as meeting procedures and officer positions. In theory, a corporation cannot own its own stock. An exception is treasury stock , where the company essentially buys back stock from its shareholders, which reduces its outstanding shares. This essentially becomes
3955-480: Is from the Latin verb lego, legere, legi, lectum , "to collect, gather together, pick", plus the preposition cum , "with", thus meaning "selected together". Thus "colleagues" are literally "persons who have been selected to work together". In ancient Rome a collegium was a "body, guild, corporation united in colleagueship; of magistrates, praetors, tribunes, priests, augurs; a political club or trade guild". Thus
4068-483: Is known as a junior college . The municipal government of the city of Paris uses the phrase "sixth form college" as the English name for a lycée . In some national education systems, secondary schools may be called "colleges" or have "college" as part of their title. In Australia the term "college" is applied to any private or independent (non-government) primary and, especially, secondary school as distinct from
4181-447: Is limited: one can only collect from whatever assets the entity still controls when one obtains a judgment against it. Corporate names are supposed to be unique to the jurisdiction in which the corporation is registered. Governments will not allow another corporation or any other kind of legal entity to register a name that is too similar to the name of an existing corporation. However, since "different states may register entities with
4294-628: Is still named Melbourne High School . In Western Australia, South Australia and the Northern Territory , "college" is used in the name of all state high schools built since the late 1990s, and also some older ones. In New South Wales , some high schools, especially multi-campus schools resulting from mergers, are known as "secondary colleges". In Queensland some newer schools which accept primary and high school students are styled state college , but state schools offering only secondary education are called "State High School". In Tasmania and
4407-529: Is to differentiate between universities, which have both undergraduate and graduate programs and those that do not. In Canada, there is a strong distinction between "college" and "university". In conversation, one specifically would say either "they are going to university" (i.e., studying for a three- or four-year degree at a university) or "they are going to college" (i.e., studying at a technical/career training). The term college also applies to distinct entities that formally act as an affiliated institution of
4520-407: Is usually required to register with other governments as a foreign corporation and must formally appoint a registered agent to accept service of process within such other jurisdictions. A foreign corporation is almost always subject to the laws of its host state pertaining to external affairs such as employment , crimes , contracts , civil actions , and the like. Corporations generally have
4633-924: The American College of Surgeons , and the American College of Dentists. An example in Australia is the Royal Australian College of General Practitioners . The different ways in which the term "College" is used to describe educational institutions in various regions of the world is listed below: In Canadian English, the term "college" usually refers to a trades school, applied arts/science/technology/business/health school or community college . These are post-secondary institutions granting certificates , diplomas, associate degrees and (in some cases) bachelor's degrees . The French acronym specific to public institutions within Quebec 's particular system of pre-university and technical education
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4746-522: The Australian Capital Territory , "college" refers to the final two years of high school (years 11 and 12), and the institutions which provide this. In this context, "college" is a system independent of the other years of high school. Here, the expression is a shorter version of matriculation college . In a number of Canadian cities, many government-run secondary schools are called "collegiates" or " collegiate institutes " (C.I.),
4859-492: The College of Arms in London (a body of heralds enforcing heraldic law), an electoral college (to elect representatives); all groups of persons "selected in common" to perform a specified function and appointed by a monarch, founder or other person in authority. As for the modern "college of education", it was a body created for that purpose, for example Eton College was founded in 1440 by letters patent of King Henry VI for
4972-715: The Industrial Revolution had gathered pace, pressing for legal change to facilitate business activity. The repeal was the beginning of a gradual lifting on restrictions, though business ventures (such as those chronicled by Charles Dickens in Martin Chuzzlewit ) under primitive companies legislation were often scams. Without cohesive regulation, proverbial operations like the "Anglo-Bengalee Disinterested Loan and Life Assurance Company" were undercapitalized ventures promising no hope of success except for richly paid promoters. The process of incorporation
5085-569: The Latin word for body, or a "body of people". By the time of Justinian (reigned 527–565), Roman law recognized a range of corporate entities under the names Universitas , corpus or collegium . Following the passage of the Lex Julia during the reign of Julius Caesar as Consul and Dictator of the Roman Republic (49–44 BC), and their reaffirmation during the reign of Caesar Augustus as Princeps senatus and Imperator of
5198-556: The Pontifical Catholic University of Chile incorporated the term "college" as the name of a tertiary education program as a bachelor's degree. The program features a Bachelor of Natural Sciences and Mathematics , a Bachelor of Social Science and a Bachelor of Arts and Humanities . It has the same system as the American universities , it combines majors and minors and finally, it let the students continue
5311-561: The Presidency College, Kolkata , also 1817, initially known as Hindu College. The first college for the study of Christian theology and ecumenical enquiry was Serampore College (1818). The first Missionary institution to impart Western style education in India was the Scottish Church College, Calcutta (1830). The first commerce and economics college in India was Sydenham College , Mumbai (1913). In India
5424-457: The Registrar of Joint Stock Companies , empowered to register companies by a two-stage process. The first, provisional, stage cost £5 and did not confer corporate status, which arose after completing the second stage for another £5. For the first time in history, it was possible for ordinary people through a simple registration procedure to incorporate. The advantage of establishing a company as
5537-853: The Roman Army (27 BC–14 AD), collegia required the approval of the Roman Senate or the Emperor in order to be authorized as legal bodies . These included the state itself (the Populus Romanus ), municipalities, and such private associations as sponsors of a religious cult , burial clubs , political groups, and guilds of craftsmen or traders. Such bodies commonly had the right to own property and make contracts, to receive gifts and legacies, to sue and be sued, and, in general, to perform legal acts through representatives. Private associations were granted designated privileges and liberties by
5650-463: The University of California, Berkeley , "colleges" are collections of academic programs and other units that share some common characteristics, mission, or disciplinary focus (the "college of engineering", the "college of nursing", and so forth). There exist other variants for historical reasons, including some uses that exist because of mergers and acquisitions; for example, Duke University , which
5763-498: The University of Michigan , University of California, San Diego and the University of California, Santa Cruz , each residential college teaches its own core writing courses and has its own distinctive set of graduation requirements. Many U.S. universities have placed increased emphasis on their residential colleges in recent years. This is exemplified by the creation of new colleges at Ivy League schools such as Yale University and Princeton University , and efforts to strengthen
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#17327728947615876-729: The War of the Spanish Succession , which gave Great Britain an asiento to trade in the region for thirty years. In fact, the Spanish remained hostile and let only one ship a year enter. Unaware of the problems, investors in Britain, enticed by extravagant promises of profit from company promoters bought thousands of shares. By 1717, the South Sea Company was so wealthy (still having done no real business) that it assumed
5989-562: The public debt of the British government. This accelerated the inflation of the share price further, as did the Bubble Act 1720 , which (possibly with the motive of protecting the South Sea Company from competition) prohibited the establishment of any companies without a royal charter. The share price rose so rapidly that people began buying shares merely in order to sell them at a higher price, which in turn led to higher share prices. This
6102-658: The Board of Trade, Robert Lowe . This allowed investors to limit their liability in the event of business failure to the amount they invested in the company – shareholders were still liable directly to creditors , but just for the unpaid portion of their shares . (The principle that shareholders are liable to the corporation had been introduced in the Joint Stock Companies Act 1844). The 1855 Act allowed limited liability to companies of more than 25 members (shareholders). Insurance companies were excluded from
6215-713: The Dutch government, the Dutch East India Company defeated Portuguese forces and established itself in the Moluccan Islands in order to profit from the European demand for spices . Investors in the VOC were issued paper certificates as proof of share ownership, and were able to trade their shares on the original Amsterdam Stock Exchange . Shareholders were also explicitly granted limited liability in
6328-699: The English East India Company would come to symbolize the dazzlingly rich potential of the corporation, as well as new methods of business that could be both brutal and exploitative. On 31 December 1600, Queen Elizabeth I granted the company a 15-year monopoly on trade to and from the East Indies and Africa . By 1711, shareholders in the East India Company were earning a return on their investment of almost 150 per cent. Subsequent stock offerings demonstrated just how lucrative
6441-582: The Morrill Act have since become full universities, and some are among the elite of the world. Selection of a four-year college as compared to a two-year junior college, even by marginal students such as those with a C+ grade average in high school and SAT scores in the mid 800s, increases the probability of graduation and confers substantial economic and social benefits. In Bangladesh , educational institutions offering higher secondary ( 11th – 12th grade) education are known as colleges. In Hong Kong,
6554-905: The North Island, whereas "high schools" are more common in the South Island. In the Netherlands, "college" is equivalent to HBO (Higher professional education). It is oriented towards professional training with clear occupational outlook, unlike universities which are scientifically oriented. In South Africa, some secondary schools, especially private schools on the English public school model, have "college" in their title, including six of South Africa's Elite Seven high schools. A typical example of this category would be St John's College . Private schools that specialize in improving children's marks through intensive focus on examination needs are informally called "cram-colleges". In Sri Lanka
6667-424: The UK, such as fraud and corporate manslaughter . However, corporations are not considered living entities in the way that humans are. Legal scholars and others, such as Joel Bakan , have observed that a business corporation created as a "legal person" has a psychopathic personality because it is required to elevate its own interests above those of others even when this inflicts major risks and grave harms on
6780-413: The US can refer to a constituent part of a university (which can be a residential college , the sub-division of the university offering undergraduate courses, or a school of the university offering particular specialized courses), an independent institution offering bachelor's-level courses, or an institution offering instruction in a particular professional, technical or vocational field. In popular usage,
6893-484: The act, though it was standard practice for insurance contracts to exclude action against individual members. Limited liability for insurance companies was allowed by the Companies Act 1862 . This prompted the English periodical The Economist to write in 1855 that "never, perhaps, was a change so vehemently and generally demanded, of which the importance was so much overrated." The major error of this judgment
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#17327728947617006-505: The affiliated university. Also, some significant changes can pave way under the NEP (New Education Policy 2020) which may affect the present guidelines for universities and colleges. Implemented in the 2023–2024 academic year, the new education policy is said to fill the gaps and cover the drawbacks of the Indian education system . In Israel, any non-university higher-learning facility is called
7119-662: The authority of the central administration. Centralized universities that have adopted the collegiate model to a degree includes the University of British Columbia, with Green College and St. John's College ; and the Memorial University of Newfoundland , with Sir Wilfred Grenfell College . Occasionally, "college" refers to a subject specific faculty within a university that, while distinct, are neither federated nor affiliated —College of Education, College of Medicine, College of Dentistry, College of Biological Science among others. The Royal Military College of Canada
7232-613: The company had become. Its first stock offering in 1713–1716 raised £418,000, its second in 1717–1722 raised £1.6 million. A similar chartered company , the South Sea Company , was established in 1711 to trade in the Spanish South American colonies, but met with less success. The South Sea Company's monopoly rights were supposedly backed by the Treaty of Utrecht , signed in 1713 as a settlement following
7345-556: The company's royal charter. In England, the government created corporations under a royal charter or an Act of Parliament with the grant of a monopoly over a specified territory. The best-known example, established in 1600, was the East India Company of London . Queen Elizabeth I granted it the exclusive right to trade with all countries to the east of the Cape of Good Hope . Some corporations at this time would act on
7458-443: The constitution of a college of Fellows, priests, clerks, choristers, poor scholars, and old poor men, with one master or governor , whose duty it shall be to instruct these scholars and any others who may resort thither from any part of England in the knowledge of letters, and especially of grammar, without payment". Within higher education, the term can be used to refer to: A sixth form college or college of further education
7571-417: The contribution of the residential colleges to student education, including through a 2016 taskforce at Princeton on residential colleges. The founders of the first institutions of higher education in the United States were graduates of the University of Oxford and the University of Cambridge. The small institutions they founded would not have seemed to them like universities – they were tiny and did not offer
7684-402: The corporate model for this reason (as a trust ). State governments began to adopt more permissive corporate laws from the early 19th century, although these were all restrictive in design, often with the intention of preventing corporations from gaining too much wealth and power. New Jersey was the first state to adopt an "enabling" corporate law, with the goal of attracting more business to
7797-490: The corporate status of the entity (for example, "Incorporated" or "Inc." in the United States) or the limited liability of its members (for example, "Limited", "Ltd.", or "LLC"). These terms vary by jurisdiction and language. In some jurisdictions, they are mandatory, and in others, such as California, they are not. Their use puts everybody on constructive notice that they are dealing with an entity whose liability
7910-408: The corporation is determined by the portion of shares in the company that they own. Thus, a person who owns a quarter of the shares of a joint-stock company owns a quarter of the company, is entitled to a quarter of the profit (or at least a quarter of the profit given to shareholders as dividends) and has a quarter of the votes capable of being cast at general meetings. In another kind of corporation,
8023-632: The corporation is through stock, and owners of stock are referred to as stockholders or shareholders . Corporations not allowed to issue stock are referred to as non-stock corporations ; i.e. those who are considered the owners of a non-stock corporation are persons (or other entities) who have obtained membership in the corporation and are referred to as a member of the corporation. Corporations chartered in regions where they are distinguished by whether they are allowed to be for-profit are referred to as for-profit and not-for-profit corporations, respectively. Shareholders do not typically actively manage
8136-408: The corporation to designate its principal address, as well as a registered agent (a person or company designated to receive legal service of process). It may also be required to designate an agent or other legal representatives of the corporation. Generally, a corporation files articles of incorporation with the government, laying out the general nature of the corporation, the amount of stock it
8249-520: The emperor. The concept of the corporation was revived in the Middle Ages with the recovery and annotation of Justinian's Corpus Juris Civilis by the glossators and their successors the commentators in the 11th–14th centuries. Particularly important in this respect were the Italian jurists Bartolus de Saxoferrato and Baldus de Ubaldis , the latter of whom connected the corporation to
8362-499: The equivalent of 39 percent of tuition and fees at a community college, and 14 percent of tuition and fees at a four-year public university. In addition to private colleges and universities, the U.S. also has a system of government funded, public universities . Many were founded under the Morrill Land-Grant Colleges Act of 1862. A movement had arisen to bring a form of more practical higher education to
8475-422: The equivalent of unissued capital, where it is not classified as an asset on the balance sheet (passive capital). Under the internal affairs doctrine , the law of the jurisdiction in which a corporation is incorporated will govern its internal activities—that is, conflicts between shareholders and managers such as the board of directors and corporate officers. If a corporation operates outside its home state, it
8588-452: The first of many residential colleges that would grow up into a New Cambridge university. However, over time, few new colleges were founded there, and Harvard grew and added higher faculties. Eventually, it changed its title to university, but the term "college" had stuck and "colleges" have arisen across the United States. In U.S. usage, the word "college" not only embodies a particular type of school, but has historically been used to refer to
8701-420: The general concept of higher education when it is not necessary to specify a school, as in "going to college" or "college savings accounts" offered by banks. In a survey of more than 2,000 college students in 33 states and 156 different campuses, the U.S. Public Interest Research Group found the average student spends as much as $ 1,200 each year on textbooks and supplies alone. By comparison, the group says that's
8814-460: The government's behalf, bringing in revenue from its exploits abroad. Subsequently, the company became increasingly integrated with English and later British military and colonial policy, just as most corporations were essentially dependent on the Royal Navy 's ability to control trade routes. Labeled by both contemporaries and historians as "the grandest society of merchants in the universe",
8927-455: The higher degrees in medicine and theology. Furthermore, they were not composed of several small colleges. Instead, the new institutions felt like the Oxford and Cambridge colleges they were used to – small communities, housing and feeding their students, with instruction from residential tutors (as in the United Kingdom, described above). When the first students graduated, these "colleges" assumed
9040-599: The history of companies was the 1897 decision of the House of Lords in Salomon v. Salomon & Co. where the House of Lords confirmed the separate legal personality of the company, and that the liabilities of the company were separate and distinct from those of its owners. In the United States , forming a corporation usually required an act of legislation until the late 19th century. Many private firms, such as Carnegie 's steel company and Rockefeller 's Standard Oil , avoided
9153-650: The landmark 1856 Joint Stock Companies Act . This was subsequently consolidated with a number of other statutes in the Companies Act 1862, which remained in force for the rest of the century, up to and including the time of the decision in Salomon v A Salomon & Co Ltd . The legislation shortly gave way to a railway boom, and from then, the numbers of companies formed soared. In the later nineteenth century, depression took hold, and just as company numbers had boomed, many began to implode and fall into insolvency. Much strong academic, legislative and judicial opinion
9266-425: The legal document which established the corporation or which contains its current rules will determine the requirements for membership in the corporation. What these requirements are depends on the kind of corporation involved. In a worker cooperative , the members are people who work for the cooperative. In a credit union , the members are people who have accounts with the credit union. The day-to-day activities of
9379-532: The lives of any particular member, existing in perpetuity. The alleged oldest commercial corporation in the world, the Stora Kopparberg mining community in Falun , Sweden , obtained a charter from King Magnus Eriksson in 1347. In medieval times , traders would do business through common law constructs, such as partnerships . Whenever people acted together with a view to profit, the law deemed that
9492-432: The masses, as "...many politicians and educators wanted to make it possible for all young Americans to receive some sort of advanced education." The Morrill Act "...made it possible for the new western states to establish colleges for the citizens." Its goal was to make higher education more easily accessible to the citizenry of the country, specifically to improve agricultural systems by providing training and scholarship in
9605-417: The members of their boards. In Canada, this possibility is taken to its logical extreme: many smaller Canadian corporations have no names at all, merely numbers based on a registration number (for example, "12345678 Ontario Limited"), which is assigned by the provincial or territorial government where the corporation incorporates. In most countries, corporate names include a term or an abbreviation that denotes
9718-538: The metaphor of the body politic to describe the state . Early entities which carried on business and were the subjects of legal rights included the collegium of ancient Rome and the sreni of the Maurya Empire in ancient India. In medieval Europe, churches became incorporated, as did local governments, such as the City of London Corporation . The point was that the incorporation would survive longer than
9831-655: The money via loans, and some students fund their educations with cash, scholarships, grants, or some combination of these payment methods. In 2011, the state or federal government subsidized $ 8,000 to $ 100,000 for each undergraduate degree. For state-owned schools (called "public" universities), the subsidy was given to the college, with the student benefiting from lower tuition. The state subsidized on average 50% of public university tuition. Colleges vary in terms of size, degree, and length of stay. Two-year colleges, also known as junior or community colleges , usually offer an associate degree , and four-year colleges usually offer
9944-406: The overarching university, with the overarching university being the institution that formally grants the degrees. For example, Trinity College was once an independent institution, but later became federated with the University of Toronto . Several centralized universities in Canada have mimicked the collegiate university model; although constituent colleges in a centralized university remains under
10057-534: The production and sales of agricultural products, and to provide formal education in "...agriculture, home economics, mechanical arts, and other professions that seemed practical at the time." The act was eventually extended to allow all states that had remained with the Union during the American Civil War , and eventually all states, to establish such institutions. Most of the colleges established under
10170-411: The public or on other third-parties. Such critics note that the legal mandate of the corporation to focus exclusively on corporate profits and self-interest often victimizes employees, customers, the public at large, and/or the natural resources . The political theorist David Runciman notes that corporate personhood forms a fundamental part of the modern history of the idea of the state , and believes
10283-489: The right to confer degrees upon them, usually with authority—for example, The College of William & Mary has a royal charter from the British monarchy allowing it to confer degrees while Dartmouth College has a charter permitting it to award degrees "as are usually granted in either of the universities, or any other college in our realm of Great Britain." The leaders of Harvard College (which granted America's first degrees in 1642) might have thought of their college as
10396-407: The same names, a corporate name is a unique identifier only when combined with the name of the state of incorporation". This explains why lawyers in legal papers often expressly refer to a corporation's state of incorporation after the first mention of its name. Some jurisdictions do not allow the use of the word " company " alone to denote corporate status, since the word " company " may refer to
10509-431: The selling of publicly owned (or 'nationalised') services and enterprises to corporations. Deregulation (reducing the regulation of corporate activity) often accompanied privatization as part of a laissez-faire policy. A corporation is, at least in theory, owned and controlled by its members. In a joint-stock company the members are known as shareholders, and each of their shares in the ownership, control, and profits of
10622-413: The start of free education in 1931 large group of central colleges were established to educate the rural masses. Since Sri Lanka gained Independence in 1948, many schools that have been established have been named as "college". As well as an educational institution, the term, in accordance with its etymology, may also refer to any formal group of colleagues set up under statute or regulation; often under
10735-500: The state, and they can themselves be responsible for human rights violations. Corporations can be "dissolved" either by statutory operation, the order of the court, or voluntary action on the part of shareholders. Insolvency may result in a form of corporate failure, when creditors force the liquidation and dissolution of the corporation under court order, but it most often results in a restructuring of corporate holdings. Corporations can even be convicted of special criminal offenses in
10848-581: The state, in 1896. In 1899, Delaware followed New Jersey's lead with the enactment of an enabling corporate statute, but Delaware only became the leading corporate state after the enabling provisions of the 1896 New Jersey corporate law were repealed in 1913. The end of the 19th century saw the emergence of holding companies and corporate mergers creating larger corporations with dispersed shareholders. Countries began enacting antitrust laws to prevent anti-competitive practices and corporations were granted more legal rights and protections. The 20th century saw
10961-1132: The term "college" in their names for historical reasons. In one unique case, Boston College and Boston University , the former located in Chestnut Hill, Massachusetts and the latter located in Boston, Massachusetts, are completely separate institutions. Usage of the terms varies among the states. In 1996, for example, Georgia changed all of its four-year institutions previously designated as colleges to universities, and all of its vocational technology schools to technical colleges . The terms "university" and "college" do not exhaust all possible titles for an American institution of higher education. Other options include "institute" ( Worcester Polytechnic Institute and Massachusetts Institute of Technology ), "academy" ( United States Military Academy ), "union" ( Cooper Union ), "conservatory" ( New England Conservatory ), and "school" ( Juilliard School ). In colloquial use, they are still referred to as "college" when referring to their undergraduate studies. The term college
11074-417: The term 'college' is used by tertiary institutions as either part of their names or to refer to a constituent part of the university, such as the colleges in the collegiate The Chinese University of Hong Kong ; or to a residence hall of a university, such as St. John's College, University of Hong Kong . Many older secondary schools have the term 'college' as part of their names. The modern system of education
11187-478: The title Collegian . If an internal link led you here, you may wish to change the link to point directly to the intended article. Retrieved from " https://en.wikipedia.org/w/index.php?title=Collegian&oldid=885329989 " Category : Disambiguation pages Hidden categories: Short description is different from Wikidata All article disambiguation pages All disambiguation pages College A college ( Latin : collegium )
11300-415: The undergraduate level, although advanced research may still occur at these institutions. While there is no national standard in the United States, the term "university" primarily designates institutions that provide undergraduate and graduate education . A university typically has as its core and its largest internal division an undergraduate college teaching a liberal arts curriculum, also culminating in
11413-450: The university, formally referred to as federated college , or affiliated colleges. A university may also formally include several constituent colleges, forming a collegiate university . Examples of collegiate universities in Canada include Trent University , and the University of Toronto . These types of institutions act independently, maintaining their own endowments, and properties. However, they remain either affiliated, or federated with
11526-584: The word college in their names, despite formally being universities. However, most of these institutions were renamed, or re-branded in the early 21st century, omitting the word college from its name. The word college continues to be used in the names public separate secondary schools in Ontario. A number of independent schools across Canada also use the word college in its name. Public secular school boards in Ontario also refer to their secondary schools as collegiate institutes . However, usage of
11639-604: The word collegiate institute varies between school boards. Collegiate institute is the predominant name for secondary schools in Lakehead District School Board , and Toronto District School Board , although most school boards in Ontario use collegiate institute alongside high school , and secondary school in the names of their institutions. Similarly, secondary schools in Regina, and Saskatoon are referred to as Collegiate . Officially, since 2009,
11752-576: The word "college" (known as Vidyalaya in Sinhala ) normally refers to a secondary school, which usually signifies above the 5th standard. During the British colonial period a limited number of exclusive secondary schools were established based on English public school model ( Royal College Colombo , S. Thomas' College, Mount Lavinia , Trinity College, Kandy ) these along with several Catholic schools ( St. Joseph's College, Colombo , St Anthony's College ) traditionally carry their name as colleges. Following
11865-433: The word "college" in their names nevertheless. Some secondary schools elsewhere in the country, particularly ones within the separate school system, may also use the word "college" or "collegiate" in their names. In New Zealand the word "college" normally refers to a secondary school for ages 13 to 17 and "college" appears as part of the name especially of private or integrated schools. "Colleges" most frequently appear in
11978-544: The word "college" is the generic term for any post-secondary undergraduate education. Americans "go to college" after high school , regardless of whether the specific institution is formally a college or a university. Some students choose to dual-enroll, by taking college classes while still in high school. The word and its derivatives are the standard terms used to describe the institutions and experiences associated with American post-secondary undergraduate education. Students must pay for college before taking classes. Some borrow
12091-675: Was called Trinity College until the 1920s, still calls its main undergraduate subdivision Trinity College of Arts and Sciences . Some American universities, such as Princeton , Rice , and Yale have established residential colleges (sometimes, as at Harvard , the first to establish such a system in the 1930s, known as houses) along the lines of Oxford or Cambridge. Unlike the Oxbridge colleges, but similarly to Durham , these residential colleges are not autonomous legal entities nor are they typically much involved in education itself, being primarily concerned with room, board, and social life. At
12204-428: Was heavily influenced by the British starting in 1835. In India, the term "college" is commonly reserved for institutions that offer high school diplomas at year 12 (" Junior College ", similar to American high schools ), and those that offer the bachelor's degree ; some colleges, however, offer programmes up to PhD level. Generally, colleges are located in different parts of a state and all of them are affiliated to
12317-550: Was limited liability. Limited liability separates control of a company from ownership and means that a passive shareholder in a corporation will not be personally liable either for contractually agreed obligations of the corporation, or for torts (involuntary harms) committed by the corporation against a third party (acts done by the controllers of the corporation). Where local law distinguishes corporations by their ability to issue stock , corporations allowed to do so are referred to as stock corporations ; one type of investment in
12430-484: Was opposed to the notion that businessmen could escape accountability for their role in the failing businesses. In 1892, Germany introduced the Gesellschaft mit beschränkter Haftung with a separate legal personality and limited liability even if all the shares of the company were held by only one person. This inspired other countries to introduce corporations of this kind. The last significant development in
12543-454: Was possible only through a royal charter or a private act and was limited, owing to Parliament's jealous protection of the privileges and advantages thereby granted. As a result, many businesses came to be operated as unincorporated associations with possibly thousands of members. Any consequent litigation had to be carried out in the joint names of all the members and was almost impossibly cumbersome. Though Parliament would sometimes grant
12656-534: Was recognised by the same magazine more than 70 years later, when it claimed that, "[t]he economic historian of the future... may be inclined to assign to the nameless inventor of the principle of limited liability, as applied to trade corporations, a place of honour with Watt and Stephenson , and other pioneers of the Industrial Revolution. " These two features – a simple registration procedure and limited liability – were subsequently codified into
12769-417: Was the first speculative bubble the country had seen, but by the end of 1720, the bubble had "burst", and the share price sank from £1,000 to under £100. As bankruptcies and recriminations ricocheted through government and high society, the mood against corporations and errant directors was bitter. In the late 18th century, Stewart Kyd , the author of the first treatise on corporate law in English, defined
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