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91-458: The MathWorks, Inc. is an American privately held corporation that specializes in mathematical computing software . Its major products include MATLAB and Simulink , which support data analysis and simulation. Mathwork's flagship product, MATLAB, was created in the 1970s by Cleve Moler , who was chairman of the computer science department at the University of New Mexico at the time. It
182-492: 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
273-400: 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
364-489: 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
455-436: 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
546-439: 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 ,
637-424: 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
728-657: A gold-colored symbolic sun , atom , oil derrick , windmill , and dynamo . It is crested by the white head of an eagle , atop a white rope. Both appear on a blue field surrounded by concentric circles in which the name of the agency, in gold, appears on a green background." "The eagle represents the care in planning and the purposefulness of efforts required to respond to the Nation's increasing demands for energy . The sun , atom , oil derrick , windmill , and dynamo serve as representative technologies whose enhanced development can help meet these demands. The rope represents
819-469: A graphical and simulation environment for model-based design of dynamic systems. MATLAB and Simulink are used in aerospace, automotive, software and other fields. The company's other products include Polyspace , SimEvents , Stateflow , and ThingSpeak . In 1999, the U.S. Department of Justice filed a lawsuit against MathWorks and Wind River Systems alleging that an agreement between them violated antitrust laws. The agreement in question stipulated that
910-495: 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, a corporation can be classified as aggregate (the subject of this article) or sole (a legal entity consisting of
1001-537: 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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#17328008530931092-553: 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
1183-513: A political appointee of the President of the United States . The Energy Secretary is assisted in managing the department by a United States Deputy Secretary of Energy , also appointed by the president, who assumes the duties of the secretary in the secretary's absence. The department also has three under secretaries, each appointed by the president, who oversee the major areas of the department's work. The president also appoints seven officials with
1274-481: 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
1365-466: 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 ,
1456-439: 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 ,
1547-629: A specific nuclear device. Wen Ho Lee was accused of stealing nuclear secrets from Los Alamos National Laboratory for the People's Republic of China . Federal officials, including then-Energy Secretary Bill Richardson , publicly named Lee as a suspect before he was charged with a crime. The U.S. Congress held hearings to investigate the Department of Energy's handling of his case. Republican senators thought that an independent agency should be in charge of nuclear weapons and security issues, rather than
1638-958: 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,
1729-550: Is an executive department of the U.S. federal government that oversees U.S. national energy policy and energy production , the research and development of nuclear power , the military's nuclear weapons program , nuclear reactor production for the United States Navy , energy-related research, and energy conservation . The DOE was created in 1977 in the aftermath of the 1973 oil crisis . It sponsors more physical science research than any other U.S. federal agency,
1820-407: 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 a monarch or passed by
1911-473: 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
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#17328008530932002-514: Is focused on a particular energy challenge. Two of the eight hubs are included in the EERE budget and will focus on integrating smart materials, designs, and systems into buildings to better conserve energy and on designing and discovering new concepts and materials needed to convert solar energy into electricity. Another two hubs, included in the DOE Office of Science budget, were created to tackle
2093-447: 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
2184-407: 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
2275-715: 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
2366-620: 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
2457-457: 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
2548-853: 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
2639-729: 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
2730-500: The World Institute for Nuclear Security (WINS), an international non-governmental organization designed to provide a forum to share best practices in strengthening the security and safety of nuclear and radioactive materials and facilities. The department announced a reorganization with new names of under secretaries in 2022. The department is under the control and supervision of a United States Secretary of Energy ,
2821-519: The earth itself, and gold represents the creation of energy in the release of natural forces. By invoking this symbolism , the color scheme represents the Nation's commitment to meet its energy needs in a manner consistent with the preservation of the natural environment ." The Department of Energy operates a system of national laboratories and technical facilities for research and development, as follows: Other major DOE facilities include: Airstrip: The DOE/ NNSA has federal responsibility for
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2912-562: 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
3003-715: The Apple Hill office complex in Natick, Massachusetts, purchasing additional buildings in the complex in 2008 and 2009, ultimately occupying the entire campus. MathWorks expanded further in 2013 by buying Boston Scientific 's old headquarters campus, which is near to MathWorks' headquarters in Natick. By 2018, the company had around 3,000 employees in Natick and said it had revenues of around $ 900 million. The company's two lead products are MATLAB , which provides an environment for scientists, engineers and programmers to analyze and visualize data and develop algorithms, and Simulink ,
3094-658: 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
3185-651: The DOE. All but one of the 59 charges against Lee were eventually dropped because the investigation proved the plans the Chinese obtained could not have come from Lee. Lee filed suit and won a $ 1.6 million settlement against the federal government and news agencies. The episode eventually led to the creation of the National Nuclear Security Administration , a semi-autonomous agency within the department. In 2001, American Solar Challenge
3276-400: The Department of Energy with the goal of promoting energy conservation and energy independence, and developing alternative sources of energy to reduce the use of fossil fuels . With international energy's future uncertain for America, Carter acted quickly to have the department come into action the first year of his presidency. This was an extremely important issue of the time as the oil crisis
3367-729: The Department of Energy. The new agency, which began operations on October 1, 1977, consolidated the Federal Energy Administration , the Energy Research and Development Administration , the Federal Power Commission , and programs of various other agencies. Former Secretary of Defense James Schlesinger , who served under Presidents Nixon and Ford during the Vietnam War , was appointed as the first secretary. President Carter proposed
3458-713: 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
3549-699: 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
3640-462: The Office of Energy Efficiency and Renewable Energy would be lowered to $ 696 million under the plan, down from $ 1.3 billion in fiscal year 2017. Overall, the department's energy and related programs would be cut by $ 1.9 billion. Energy Savings Performance Contracts (ESPCs) are contracts under which a contractor designs, constructs, and obtains the necessary financing for an energy savings project, and
3731-472: 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
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3822-643: The United States at the time the guarantee is issued". In loan guarantees, a conditional commitment requires to meet an equity commitment, as well as other conditions, before the loan guarantee is completed. In September 2008, the DOE, the Nuclear Threat Initiative (NTI), the Institute of Nuclear Materials Management (INMM), and the International Atomic Energy Agency (IAEA) partnered to develop and launch
3913-539: 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
4004-567: The challenges of devising advanced methods of energy storage and creating fuels directly from sunlight without the use of plants or microbes. Yet another hub was made to develop "smart" materials to allow the electrical grid to adapt and respond to changing conditions. In 2012, the DOE awarded $ 120 million to the Ames Laboratory to start a new EIH, the Critical Materials Institute, which will focus on improving
4095-449: The cohesiveness in the development of the technologies and their link to our future capabilities. The lightning bolt represents the power of the natural forces from which energy is derived and the Nation's challenge in harnessing the forces." "The color scheme is derived from nature, symbolizing both the source of energy and the support of man's existence. The blue field represents air and water , green represents mineral resources and
4186-613: 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
4277-556: 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
4368-402: 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
4459-490: 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
4550-408: 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,
4641-632: 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
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#17328008530934732-408: 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
4823-476: The design, testing and production of all nuclear weapons. NNSA in turn uses contractors to carry out its responsibilities at the following government owned sites: On May 7, 2009 President Barack Obama unveiled a $ 26.4 billion budget request for DOE for fiscal year (FY) 2010, including $ 2.3 billion for the DOE Office of Energy Efficiency and Renewable Energy (EERE). That budget aimed to substantially expand
4914-520: 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
5005-422: 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
5096-433: The federal agency makes payments over time to the contractor from the savings in the agency's utility bills. The contractor guarantees the energy improvements will generate savings, and after the contract ends, all continuing cost savings accrue to the federal agency. Energy Innovation Hubs are multi-disciplinary , meant to advance highly promising areas of energy science and technology from their early stages of research to
5187-595: The first customers. The company sold its first order, 10 copies of MATLAB, for $ 500 to the Massachusetts Institute of Technology (MIT) in February 1985. A few years later, Little and the company moved to Massachusetts. There, Little hired Jeanne O'Keefe, an experienced computer executive, to help formalize the business. By 1997, MathWorks was profitable, claiming revenue of around $ 50 million, and had around 380 employees. In 1999, MathWorks relocated to
5278-460: 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",
5369-661: 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
5460-446: The idea of the corporation as legal persons can help to clarify the role of citizens as political stakeholders , and to break down the sharp conceptual dichotomy between the state and the people or the individual, a distinction that, on his account, is "increasingly unable to meet the demands placed on the state in the modern world". Other United States Department of Energy The United States Department of Energy ( DOE )
5551-650: 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
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#17328008530935642-425: 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
5733-532: 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
5824-547: The majority of which is conducted through its system of National Laboratories . The DOE also directs research in genomics , with the Human Genome Project originating from a DOE initiative. The department is headed by the secretary of energy , who reports directly to the president of the United States and is a member of the Cabinet . The current secretary of energy is Jennifer Granholm , who has served in
5915-632: The mathematics exhibit at London's Science Museum . In the coding community, MathWorks hosts MATLAB Central, an online exchange where users ask and answer questions and share code. MATLAB Central currently houses around than 145,000 questions in its MATLAB Answers database. The company actively supports numerous academic institutions to advance STEM education (primarily through the use of MathWorks products), including giving funding to MIT Open Courseware and MITx. 42°18′01″N 71°21′01″W / 42.30025°N 71.35039°W / 42.30025; -71.35039 Corporation A corporation
6006-417: 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
6097-538: 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
6188-515: The new Nuclear Regulatory Commission , which was charged with regulating the nuclear power industry, and the Energy Research and Development Administration , which was assigned to manage the nuclear weapon, naval reactor, and energy development programs. The 1973 oil crisis called attention to the need to consolidate energy policy. In 1977, President Jimmy Carter signed into law the Department of Energy Organization Act , which established
6279-497: The point that the risk level will be low enough for industry to commercialize the technologies. The Consortium for Advanced Simulation of Light Water Reactors (CASL) was the first DOE Energy Innovation Hub established in July 2010, for the purpose of providing advanced modeling and simulation (M&S) solutions for commercial nuclear reactors. The 2009 DOE budget includes $ 280 million to fund eight Energy Innovation Hubs, each of which
6370-661: The position since February 2021. The department's headquarters are in southwestern Washington, D.C. , in the James V. Forrestal Building , with additional offices in Germantown, Maryland . In 1942, during World War II , the United States started the Manhattan Project to develop the atomic bomb under the U.S. Army Corps of Engineers . After the war, in 1946, the Atomic Energy Commission (AEC)
6461-411: 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
6552-505: The rank of Assistant Secretary of Energy who have line management responsibility for major organizational elements of the department. The Energy Secretary assigns their functions and duties. Excerpt from the Code of Federal Regulations , in Title 10: Energy : The official seal of the Department of Energy "includes a green shield bisected by a gold-colored lightning bolt, on which is emblazoned
6643-407: 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
6734-431: 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
6825-500: 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
6916-581: 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
7007-517: The stimulus spending was in the form of grants and contracts. For fiscal year 2013, each of the operating units of the Department of Energy operated with the following budgets: In March 2018, Energy Secretary Rick Perry testified to a Senate panel about the Trump administration's DOE budget request for fiscal year 2019. The budget request prioritized nuclear security while making large cuts to energy efficiency and renewable energy programs. The proposal
7098-584: The two companies agreed to stop competing in the field of dynamic control system design software, with MathWorks alone selling Wind River's MATRIXx Software and that Wind River would stop all research and development and sales in that field. Both companies eventually settled with the Department of Justice and agreed to sell the MATRIXx software to a third party. MathWorks had total sales of $ 200 million in 2001, with dynamic control system design software accounting for half of those sales. MathWorks's Simulink software
7189-565: The use of renewable energy sources while improving energy transmission infrastructure. It also proposed significant investments in hybrids and plug-in hybrids , smart grid technologies, and scientific research and innovation. As part of the $ 789 billion economic stimulus package in the American Recovery and Reinvestment Act of 2009, Congress provided Energy with an additional $ 38.3 billion for fiscal years 2009 and 2010, adding about 75 percent to Energy's annual budgets. Most of
7280-510: Was a $ 500 million increase in funds over fiscal year 2017. It "promotes innovations like a new Office of Cybersecurity, Energy Security, and Emergency Response (CESER) and gains for the Office of Fossil Energy. Investments would be made to strengthen the National Nuclear Security Administration and modernize the nuclear force, as well as in weapons activities and advanced computing." However, the budget for
7371-551: Was a free tool for academics. Jack Little , who would eventually set up the company, came across the tool while he was a graduate student in electrical engineering at Stanford University. Little and Steve Bangert rewrote the code for MATLAB in C while they were colleagues at an engineering firm. They founded MathWorks along with Moler in 1984, with Little running it out of his house in Portola Valley, California . Little would mail diskettes in baggies (food storage bags) to
7462-628: Was causing shortages and inflation . With the Three Mile Island accident , Carter was able to intervene with the help of the department. Through the DOE, Carter was able to make changes within the Nuclear Regulatory Commission , including improving management and procedures, since nuclear energy and weapons are responsibilities of the department. In December 1999, the FBI was investigating how China obtained plans for
7553-601: Was closed in 2014 without filing any charge. The logo represents the first vibrational mode of a thin L-shaped membrane, clamped at the edges, and governed by the wave equation , which was the subject of Moler's thesis. The company annually sponsors a number of student engineering competitions, including EcoCAR , an advanced vehicle technology competition created by the United States Department of Energy (DOE) and General Motors (GM). MathWorks sponsored
7644-506: Was created to control the future of the project. The Atomic Energy Act of 1946 also created the framework for the first National Laboratories . Among other nuclear projects, the AEC produced fabricated uranium fuel cores at locations such as Fernald Feed Materials Production Center in Cincinnati, Ohio . The Energy Reorganization Act of 1974 split the responsibilities of the AEC into
7735-722: Was found to have infringed 3 patents from National Instruments related to data flow diagrams in 2003, a decision which was confirmed by a court of appeal in 2004. In 2011, MathWorks sued AccelerEyes for copyright infringement in one court, and patent and trademark infringement in another. AccelerEyes accepted consent decrees in both cases before the trials began. In 2012, the European Commission opened an antitrust investigation into MathWorks after competitors alleged that MathWorks refused to grant licenses to its intellectual property that would allow people to create software with interoperability with its products. The case
7826-550: 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
7917-484: 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
8008-454: 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
8099-534: 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
8190-530: Was sponsored by the DOE and the National Renewable Energy Laboratory . After the 2005 race, the DOE discontinued its sponsorship. Title XVII of Energy Policy Act of 2005 authorizes the DOE to issue loan guarantees to eligible projects that "avoid, reduce, or sequester air pollutants or anthropogenic emissions of greenhouse gases " and "employ new or significantly improved technologies as compared to technologies in service in
8281-417: 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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