52-522: Mathmos Limited is a British company that sells lighting products, most famously the lava lamp invented by its founder Edward Craven Walker . It is headquartered in its factory in Poole , Dorset . The Astro lamp, or lava lamp , was invented around 1963 by Edward Craven Walker. It was adapted from a design for an egg timer spotted in a pub in Dorset, England. Edward and Christine Craven-Walker licensed
104-537: A common seal . Except for some senior positions, companies remain unaffected by the death, insanity, or insolvency of an individual member. The English word, " company ", has its origins in the Old French term compagnie (first recorded in 1150), meaning "society, friendship, intimacy; body of soldiers", which came from the Late Latin word companio ("one who eats bread with you"), first attested in
156-456: A legal fiction not to be contracts due to the absence of promises of future action. A minor may not disavow such a trade. Generally, the courts base their determination on whether the minor, after reaching the age of majority, has had ample opportunity to consider the nature of the contractual obligations he or she entered into as a minor and the extent to which the adult party to the contract has performed. As one court put it, "the purpose of
208-575: A partnership is not legally a company, but may sometimes be referred to (informally) as a "company". It may be referred to as a "firm" . In the United States , a company is not necessarily a corporation. For example, a company may be a " corporation , partnership , association, joint-stock company , trust , fund , or organized group of persons , whether incorporated or not, and (in an official capacity) any receiver, trustee in bankruptcy, or similar official, or liquidating agent , for any of
260-404: A business entity becomes insolvent , an administrator , receiver, or other similar legal functionary may be appointed to determine whether the entity shall continue to trade or be sold so that the creditors may receive all or a proportion of the money owing to them. During this time, the capacity of the entity is limited so that its liabilities are not increased unreasonably and to the detriment of
312-404: A disturbance in the functioning of, the mind or brain". Where an individual lacks capacity on grounds of mental illness or senility, a relative or other responsible person may obtain a lasting power of attorney to make decisions concerning the "personal welfare" of the person lacking capacity, the "property and [financial] affairs" of the person, or both. Questions as to whether an individual has
364-455: A fair opportunity to gain value. This system worked well until social and commercial mobility increased. Now persons routinely trade and travel across state boundaries (both physically and electronically), so the need is to provide stability across state lines given that laws differ from one state to the next. Thus, once defined by the personal law, persons take their capacity with them like a passport whether or however they may travel. In this way,
416-571: A new larger factory in Poole just before lockdown and has stayed open through the Covid-19 pandemic working safely throughout. Company (law) A company , abbreviated as co. , is a legal entity representing an association of legal people, whether natural , juridical or a mixture of both, with a specific objective. Company members share a common purpose and unite to achieve specific, declared goals. Over time, companies have evolved to have
468-595: A number of other business awards. Edward Craven-Walker remained a consultant and company director at Mathmos until his death in 2000. Since 1999, and under the sole ownership of Cressida Granger , Mathmos widened its product range whilst maintaining and building on the classic Mathmos lava lamp range. Mathmos developed new products both in house with the Mathmos Design Studio and with a number of external designers such as Ross Lovegrove , El Ultimo Grito, Studio Job , and Sabine Marcelis . New lines include
520-427: A person will not gain or lose capacity depending on the accident of the local laws, e.g. if A does not have capacity to marry her cousin under her personal law (a rule of consanguinity ), she cannot evade that law by travelling to a state that does permit such a marriage (see nullity ). In Saskatchewan Canada, an exception to this law allows married persons to become the common law spouse of other(s) prior to divorcing
572-529: A potentially penal status on the individuals affected. During times of war or civil strife, a state will limit the ability of its citizens to offer help or assistance in any form to those who are acting against the interests of the state. Hence, all commercial and other contracts with the "enemy", including terrorists, would be considered void or suspended until a cessation of hostilities is agreed. Loss of mental capacity occurs in individuals may have an inherent physical condition that prevents them from achieving
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#1732798272120624-516: A range of colour changing and rechargeable lights, several of which have won design awards. Mathmos has recently turned its attention back to its classic British made lava lamp range In 2013, it celebrated its 50th anniversary with a limited edition of the classic Astro by Christine Craven Walker, wife and business partner of the inventor. They also showed the biggest lava lamp in the world in London ’s Southbank Centre . In 2016, Mathmos launched Neo,
676-411: A role of protector to the weaker and more vulnerable members of society. In public policy terms, this is the policy of parens patriae . Similarly, the state has a direct social and economic interest in promoting trade, so it will define the forms of business enterprise that may operate within its territory, and lay down rules that will allow both the businesses and those that wish to contract with them
728-764: A situation where they can no longer pay their debts, they lose their status as credit-worthy and become bankrupt. States differ on the means whereby their outstanding liabilities can be treated as discharged and on the precise extent of the limits that are placed on their capacities during this time but, after discharge, they are returned to full capacity. In the United States, some states have spendthrift laws under which an irresponsible spender may be deemed to lack capacity to enter into contracts (in Europe, these are termed prodigality laws) and both sets of laws may be denied extraterritorial effect under public policy as imposing
780-733: A window in London’s Carnaby Street . Mathmos celebrated the centenary of the birth of its founder and the inventor of the lava lamp Edward Craven Walker in 2018. Mathmos lava lamps appeared in a number of exhibitions including Pop & Protest and the Festival of Lights in Berlin that year. Mathmos also launched its second sell-out collaboration with Pretty Green and had a dedicated programme on its British production process as part of ITV's Made in Britain series. A new giant lava lamp iO
832-531: Is a specific function of the Court of Protection , and all matters concerning persons who have lost, or expect soon to lose, mental capacity are regulated under the Mental Capacity Act 2005 . This makes provision for lasting powers of attorney under which decisions about the health, welfare, and financial assets of a person who has lost capacity may be dealt with in that person's interests. In Ireland,
884-431: Is often necessary to petition a court, such as a probate court , that the afflicted person lacks legal capacity and allow a legal guardian to take over their financial and personal affairs. Procedures and court review have been established, dependent on the area of jurisdiction, to prevent exploitation of the incapacitated person by the guardian. The guardian periodically provides a financial accounting for court review. In
936-413: Is often set at 21 years by U.S. state law . Some laws, such as marriage laws, may differentiate between the sexes and allow women to marry at a younger age. There are instances in which a person may be able to gain capacity earlier than the prescribed time through a process of emancipation . Conversely, many states allow the inexperience of childhood to be an excusing condition to criminal liability and set
988-505: The British Columbia Infants Act ( RSBC 1996 c.223) declares all contracts, including necessities and beneficial contracts of service, are unenforceable against an infant. Only student loans and other contracts made specifically enforceable by statute will be binding on infants in that province. In contracts between an adult and an infant, adults are bound but infants may escape contracts at their option (i.e.
1040-640: The Company Law of the People's Republic of China , companies include the limited liability company and joint-stock limited company which founded in the mainland China. In English law and in legal jurisdictions based upon it, a company is a body corporate or corporation company registered under the Companies Acts or under similar legislation. Common forms include: In the United Kingdom,
1092-463: The Criminal Law , the traditional common law M'Naghten Rules excused all persons from liability if they did not understand what they were doing or if they did, that they did not know it was wrong. The consequences of this excuse were that those accused were detained indefinitely or until the medical authorities certified that it was safe to release them back into the community. This consequence
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#17327982721201144-531: The Salic law ( c. AD 500) as a calque of the Germanic expression gahlaibo (literally, "with bread"), related to Old High German galeipo ("companion") and to Gothic gahlaiba ("messmate"). By 1303, the word company referred to trade guilds . The usage of the term company to mean "business association" was first recorded in 1553, and the abbreviation "co." dates from 1769. According to
1196-517: The age of criminal responsibility to match the local experience of emerging behavioral problems (see doli incapax ). For sexual crimes, the age of consent determines the potential liability of adult accused. As an example of liability in contract, the law in most of Canada provides that an infant is not bound by the contracts he or she enters into except for the purchase of necessaries and for beneficial contracts of service. Infants must pay fair price only for necessary goods and services. However,
1248-425: The age of majority , marriageable age , voting age , etc. In many jurisdictions , legal contracts , in which (at least) one of the contracting parties is a minor, are voidable by the minor. For a minor to undergo medical procedure , consent is determined by the minor's parent(s) or legal guardian (s). The right to vote in the United States is currently set at 18 years, while the right to buy and consume alcohol
1300-713: The constitutive documents of incorporation. The general rule is that anything not included in the corporation's capacity, whether expressly or by implication, is ultra vires , i.e. "beyond the power" of the corporation, and so may be unenforceable by the corporation, but the rights and interests of innocent third parties dealing with the corporations are usually protected. In American law, limited liability companies (LLCs) are legal persons. Some legal scholars have argued that they can be used to give legal capacity to software programs , including artificial intelligence . In some states, trade unions have limited capacity unless any contract made relates to union activities. When
1352-413: The personhood itself in regard to an entity other than a natural person (in this sense also called legal personality ). Capacity covers day-to-day decisions, including: what to wear and what to buy, as well as, life-changing decisions, such as: whether to move into a care home or whether to have major surgery. As an aspect of the social contract between a state and its citizens , the state adopts
1404-407: The shareholders . In a company limited by guarantee , this will be the guarantors. Some offshore jurisdictions have created special forms of offshore company in a bid to attract business for their jurisdictions. Examples include segregated portfolio companies and restricted purpose companies. However, there are many sub-categories of company types that can be formed in various jurisdictions in
1456-564: The Assisted Decision-Making (Capacity) Act was passed in 2015. This Act addresses the capacity of people with intellectual disabilities. The general principles are set out in section 8 of the Act. Under Singapore's Mental Capacity Act 2008, "a person lacks capacity in relation to a matter if at the material time the person is unable to make a decision for himself or herself in relation to the matter because of an impairment of, or
1508-582: The Minors' Contracts Act 1987 as applicable in Singapore and in England and Wales provides that a contract entered into by a minor is not automatically unenforceable and that a "court may, if it is just and equitable to do so, require the [minor] defendant to transfer to the plaintiff any property acquired by the defendant under the contract, or any property representing it". If individuals find themselves in
1560-416: The afflicted person has prepared documents beforehand about what to do in such cases, often in a revocable living trust or related documents, then the named legal guardian may be able to take over their financial and other affairs. If the afflicted person owns their property jointly with a spouse or other able person, the able person may be able to take over many of the routine financial affairs. Otherwise, it
1612-811: The capacity to make decisions either generally or with regard to a particular matter or class of matters are generally resolved by a judicial declaration and the court making the declaration may appoint one or more individuals to act as deputies for the person lacking capacity. This sort of problem sometimes arises when people suffer some form of medical problem such as unconsciousness, coma , extensive paralysis , or delirious states, from accidents or illnesses such as strokes , or often when older people become afflicted with some form of medical/mental disability such as Huntington's disease , Alzheimer's disease , Lewy body disease, or similar dementia. Such persons are often unable to consent to medical treatment but otherwise handle their financial and other personal matters. If
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1664-418: The contract is voidable). Infants may ratify a contract on reaching age of majority. In the case of executed contracts, when the infant has obtained some benefit under the contract, he/she cannot avoid obligations unless what was obtained was of no value. Upon repudiation of a contract, either party can apply to the court. The court may order restitution, damages, or discharge the contract. All contracts involving
1716-441: The early 1960s and are still made today by Mathmos in Poole, Dorset, UK. The Mathmos lava lamp formula developed initially by Craven-Walker in the 1960s and then improved with his help in the 1990s is still used. Lava lamp sales by Mathmos have been through a number of ups and downs. After selling millions of lamps worldwide in the 1960s and 70s, they did not revive until the 1990s. In 1989, Cressida Granger and David Mulley took over
1768-512: The first lava lamp tested for children and adults, and opened a “Special Projects” division offering giant bespoke lava lamps. The first one is in Selfridges , London as part the new accessories department designed by David Chipperfield . In 2017 Mathmos launched Neo wall the only wall mounted lava lamp. Mathmos also launched their first limited edition collaboration with Liam Gallagher's fashion brand Pretty Green during London Design Week with
1820-502: The first spouse. This law is not honored amongst other Canadian provinces. Standardized classes of person have had their freedom restricted. These limitations are exceptions to the general policy of freedom of contract and the detailed human and civil rights that a person of ordinary capacity might enjoy. For example, freedom of movement may be modified, the right to vote may be withdrawn, etc. As societies have developed more equal treatment based on gender, race and ethnicity, many of
1872-446: The following features: "separate legal personality, limited liability, transferable shares, investor ownership, and a managerial hierarchy". The company, as an entity, was created by the state which granted the privilege of incorporation. Companies take various forms, such as: A company can be created as a legal person so that the company itself has limited liability as members perform or fail to discharge their duties according to
1924-412: The foregoing". Less common types of companies are: When "Ltd" is placed after the company's name, it signifies a limited company, and "PLC" ( public limited company ) indicates that its shares are widely held. In the legal context, the owners of a company are normally referred to as the "members". In a company limited or unlimited by shares (formed or incorporated with a share capital), this will be
1976-510: The infancy doctrine is to protect 'minors from foolishly squandering their wealth through improvident contracts with crafty adults who would take advantage of them in the marketplace. ' " In Singapore , while individuals under the age of 21 are regarded as minors, sections 35 and 36 of the Civil Law Act 1909 provide that certain contracts entered into by minors aged 18 and above are to be treated as though they were adults. Additionally,
2028-488: The law does not generally allow any defense or excuse to be raised to any actions taken while incapacitated. The most generous states do permit individuals to repudiate agreements as soon as sober, but the conditions to exercising this right are strict. There is a clear division between the approach of states to the definition of partnerships. One group of states treats general and limited partnerships as aggregate. In terms of capacity, this means that they are no more than
2080-403: The normal levels of performance expected from persons of comparable age, or their inability to match current levels of performance may be caused by contracting an illness. Whatever the cause, if the resulting condition is such that individuals cannot care for themselves, or may act in ways that are against their interests, those persons are vulnerable through dependency and require the protection of
2132-581: The older incapacities have been removed. For example, English law used to treat married women as lacking the capacity to own property or act independently of their husbands (the last of these rules was repealed by the Domicile and Matrimonial Proceedings Act 1973 , which removed the wife's domicile of dependency for those marrying after 1974, so that a husband and wife could have different domiciles). The definition of an infant or minor varies, each state reflecting local culture and prejudices in defining
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2184-662: The product to a number of overseas markets whilst continuing to manufacture for the European market themselves under the original name of the company, Crestworth. The rights to produce and sell the lamp on the American market for the duration of the patent were sold to Lava Simplex International, in 1966. The American company has now closed the American factory and has the lava lamps made in China. In Europe Craven-Walker’s original lava lamp designs have been in continuous production since
2236-470: The publicly declared incorporation published policy. When a company closes, it may need to be liquidated to avoid further legal obligations. Companies may associate and collectively register themselves as new companies; the resulting entities are often known as corporate groups . A company can be defined as an "artificial person", invisible, intangible, created by or under law, with a discrete legal capacity (or "personality"), perpetual succession , and
2288-423: The reputation of the exchange or particular market of an exchange. Private companies do not have publicly traded shares, and often contain restrictions on transfers of shares. In some jurisdictions, private companies have maximum numbers of shareholders. A parent company is a company that owns enough voting stock in another firm to control management and operations by influencing or electing its board of directors;
2340-440: The running of Walker's original company, Crestworth, situated in Poole , Dorset , and changed the name to Mathmos in 1992. The name Mathmos comes from the seething lake of lava beneath the city Sogo in the 1962 comic Barbarella . The 1990s re-launch of the original lava lamps saw sales grow strongly for Mathmos again from 10,000 lamps a year in 1989 to 800,000 lamps a year in 1999. Mathmos won two Queens Awards for Export and
2392-437: The second company being deemed a subsidiary of the parent company. The definition of a parent company differs by jurisdiction, with the definition normally being defined by way of laws dealing with companies in that jurisdiction. Legal personality Legal capacity is a quality denoting either the legal aptitude of a person to have rights and liabilities (in this sense also called transaction capacity ), or altogether
2444-462: The state against the risks of abuse or exploitation. Hence, any agreements that were made are voidable, and a court may declare that person a ward of the state and grant power of attorney to an appointed legal guardian . The UK's Mental Capacity Act 2005 or MCA sets out a two-stage test of capacity: The MCA states an individual is unable to make their own decision, if they are unable to do at least one of four things: In England and Wales, this
2496-404: The sum of the natural persons who conduct the business. The other group of states allows partnerships to have a separate legal personality which changes the capacity of the "firm" and those who conduct its business and makes such partnerships more like corporations. The extent of a juridical person 's capacity depends on the law of the place of incorporation and the enabling provisions included in
2548-441: The transfer of real estate are considered valid until ruled otherwise. A minor (typically under 18) can disaffirm a contract made, no matter the case. However, the entire contract must be disaffirmed. Depending on the jurisdiction, the minor may be required to return any of the goods still in his possession. Also, barter transactions such as purchasing a retail item in exchange for a cash payment are generally recognized through
2600-406: The world. Companies are also sometimes distinguished for legal and regulatory purposes between public companies and private companies . Public companies are companies whose shares can be publicly traded, often (although not always) on a stock exchange which imposes listing requirements / Listing Rules as to the issued shares, the trading of shares and future issue of shares to help bolster
2652-478: Was felt to be too draconian, and so statutes have introduced new defenses that will limit or reduce the liability of those accused of committing offenses if they were suffering from a mental illness at the relevant time (see the insanity and mental disorder defenses). Although individuals may have consumed a sufficient quantity of intoxicant or drug to reduce or eliminate their ability to understand exactly what they are doing, such conditions are self-induced and so
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#17327982721202704-664: Was launched in 2019 the FIRST100 numbered edition selling out within hours. New candle powered lava lamps Pod and Pod + were also launched. The new lamps were photographed at Second Home co-working space in London Fields and in the iconic Barbican in London. In 2020 Mathmos teamed with Poole Museum as part of the Light Up Poole event. Showcasing its lava lamps in the windows and throughout the museum. Mathmos moved into
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