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46-472: In 1903, Boston businessman Arioch Wentworth donated the majority of his estate, estimated at $ 7 million, to found an industrial school within Boston. A board of seven directors incorporated Wentworth Institute on April 5, 1904, as a school "to furnish education in the mechanical arts". The directors spent several years investigating the educational needs of the community, increased the endowment , and reached

92-403: A direct campaign. The articles of incorporation (also called a charter , certificate of incorporation or letters patent ) are filed with the appropriate state office, listing the purpose of the corporation, its principal place of business and the number and type of shares of stock. A registration fee is due, which is usually between $ 25 and $ 1,000, depending on the state. A corporate name

138-606: A face-to-face meeting. In the UK, the process of incorporation is generally called company formation. The United Kingdom is one of the quickest locations to incorporate, with a fully electronic process and a very fast turnaround by the national registrar of companies, the Companies House . The current Companies House record is five minutes to vet and issue a certificate of incorporation for an electronic application. There are many different types of UK companies: In Canada ,

184-429: A larger multisports club are examples of this (namely, Portuguese SADs ( Sociedade Anónima Desportiva ) such as Sport Lisboa e Benfica and Sporting Clube de Portugal , or Spanish SADs ( Sociedad Anónima Deportiva ) Real Zaragoza, S.A.D. and Real Betis Balompié S.A.D. , as well as Italian clubs like Società Sportiva Lazio S.p.A. ). Some sports teams are owned and financed by a single non-sports company , for example

230-879: A master's degree-granting institution, with the creation and accreditation of its master of architecture program. Wentworth received approval for university status from the Massachusetts Department of Higher Education in July 2017. Zorica Pantic , was the first female engineer to head an institute of technology in higher education in the United States. She was president from 2005 to 2019 (14 years) and created inspiration for female students on campus. As of January 2024, Wentworth offers bachelor's degrees in 22 engineering, technology, design, and management disciplines. Wentworth also offers 11 master's degrees, seven of which have an online option. In 2024, Wentworth

276-462: A narrative emerges that offers an explanation for why such views are upheld. In 1816, the New Hampshire state legislature passed a bill intended to turn privately owned Dartmouth College into a publicly owned university with a board of trustees appointed by the governor. The board filed a suit challenging the constitutionality of the legislation. The suit alleged that the college enjoyed

322-521: A player on one sports team within a sports and entertainment company to automatically play for another team in the same company. On the other hand, American varsity teams are generally organized into a structure forming a true multi-sport club belonging to an educational institution, but varsity collegiate athletics are almost never referred to as clubs; "club sports" in American colleges and universities refer to sports that are not directly sponsored by

368-494: A settlement with Wentworth's daughter, who had contested his will. Frederick Atherton was Trustee Secretary. The campus was established in Boston's Back Bay Fens , and Arthur L. Williston was the first principal of the college. On September 25, 1911, Wentworth opened as a technical school to 242 students. By 1919 the school had 1,800 students and 45 teachers. Wentworth became a degree-granting institution in 1957 and awarded its first baccalaureate-level degrees in 1970. In 1972,

414-412: A shareholder of a Corp. or LLC cannot seize the assets of the company. However, the creditor may be able to seize ownership shares in the corporation, as they are considered a personal asset. In the United States, corporations can sometimes be taxed at a lower rate than individuals. Also, corporations can own shares in other corporations and receive corporate dividends 80% tax-free. There are no limits on

460-901: A single sport or to several ( multi-sport clubs ). The term "athletics club" is sometimes used for a general sports club, rather than one dedicated to athletics proper. Friedrich Ludwig Jahn 's Turners movement, first realized at Volkspark Hasenheide in Berlin in 1811, was the origin of the modern sports clubs . Larger sports clubs are characterized by having professional and amateur departments in various sports such as bike polo , football , basketball , futsal , cricket , volleyball , handball , rink hockey , bowling , water polo , rugby , track and field athletics , boxing , baseball , cycling , tennis , rowing , gymnastics , and others, including less traditional sports such as airsoft , billiards , e-sports , orienteering , paintball , or roller derby . The teams and athletes belonging to

506-719: A single sport. There are some exceptions, especially when multiple such teams are under one ownership structure, in which case the club may be referred to as a "sports and entertainment" company; see, for example, the One Buffalo sports club, which fields an NFL team (the Buffalo Bills ), two hockey teams ( Buffalo Sabres and Rochester Americans ), professional lacrosse ( Buffalo Bandits and Rochester Knighthawks ), and general athletics and fitness (Impact Sports and Performance). Even in such circumstances, collective bargaining agreements and contract laws generally do not allow

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552-421: A sports club may compete in several different leagues, championships and tournaments wearing the same club colors and using the same club name, sharing also the same club fan base , supporters and facilities. Many professional sports clubs have an associate system where the affiliated supporters pay an annuity fee. In those cases, supporters become eligible to attend the club's home matches and exhibitions across

598-501: Is advisable prior to the submission of the Articles of Incorporation. In the case of online incorporation, the state will have the final say with regards to the name chosen for the company. The name should not deceive or mislead consumers. Registered agents are responsible for receiving all legal and tax documentation on behalf of the corporation. Share per value refers to the stated minimum value and generally doesn't correspond to

644-1441: Is also a multisports organisation, with badminton , cricket, association football and tennis facilities. In addition, like in several other countries, many universities and colleges develop a wide range of student sport activities including at a professional or semi-professional level. Fulham F.C. once ran a professional rugby league team and rowing club, which other football clubs have emulated since. Many football clubs originate from cricket teams. Today, most major cities have separate clubs for each sport (e.g. Manchester United Football Club and Lancashire County Cricket Club are based in Manchester ). Many clubs internationally describe themselves as football clubs ("FC", "Football Club" in British English and "Fußball-Club" in German; "CF", Clube de Futebol in Portuguese and Club de Fútbol in Spanish). Generally, British football clubs field only football teams. Their counterparts in several other countries tend to be full multi-sport clubs, even when called football clubs ( Futebol Clube do Porto ; Fußball-Club Bayern München ; Futbol Club Barcelona ). The equivalent abbreviation "SC" (for "Soccer Club")

690-576: Is easily transferable to others, either in whole or in part. Some state laws are particularly corporate-friendly. For example, the transfer of ownership in a corporation incorporated in US-DE is not required to be filed or recorded. Legal opinion on corporations has evolved significantly throughout history, and Supreme Court cases provide a means to observe this evolution. While these cases may seem arbitrary and decontextualized when examined individually, when viewed successively and within historical context,

736-412: Is generally made up of three parts: "distinctive element", "descriptive element", and a legal ending. All corporations must have a distinctive element, and in most filing jurisdictions, a legal ending to their names. Some corporations choose not to have a descriptive element. In the name "Tiger Computers, Inc.", the word "Tiger" is the distinctive element; the word "Computers" is the descriptive element; and

782-415: Is more common in the case of individual sports, such as the sport of athletics , where a distance runner may compete for a track and field team as well as a road running team, and also have further membership at a local sports club for training purposes. Some national sports bodies require an athlete to state a priority order of their club membership, outlining which club has the higher, or first, claim on

828-780: Is prevalent in Quebec, while the English system is operating in 9 provinces/territories. Sports club A sports club or sporting club , sometimes an athletics club or sports society or sports association , is a group of people formed for the purpose of playing sports . Sports clubs range from organisations whose members play together, unpaid, and may play other similar clubs on occasion, watched mostly by family and friends, to large commercial organisations with professional players which have teams that regularly compete against those of other clubs and sometimes attract very large crowds of paying spectators . Clubs may be dedicated to

874-419: Is the formation of a new corporation . The corporation may be a business , a nonprofit organization , sports club , or a local government of a new city or town . Specific incorporation requirements in the United States differ on a state by state basis. However, there are common pieces of information that states require to be included in the certificate of incorporation . A business purpose describes

920-493: Is the owner of the Cardiff Arms Park site. It is responsible for much of the premier amateur sporting activities in city with cricket ( Cardiff Cricket Club ), rugby union (it is the major shareholder of the semi-professional Cardiff Rugby Club ), field hockey ( Cardiff & Met Hockey Club ), tennis ( Lisvane (CAC) Tennis Club ) and bowls ( Cardiff Athletic Bowls Club ) sections. Catford Wanderers Sports Club

966-450: Is the protection of personal assets against the claims of creditors and lawsuits. Sole proprietors and general partners in a partnership are personally and jointly responsible for all the legal liability (LL) of a business such as loans, accounts payable, and legal judgments. In a corporation, however, shareholders , directors and officers typically are not liable for the company's debts and obligations. They are limited in liability to

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1012-847: The Leopards . Wentworth is a member of the NCAA Division III and participates in the Conference of New England as a non- football member. In 2023, Jared M. Pierce made history at Wentworth by become the first two-time All American, in Track & Field, from the university. He finished 8th place in the shot-put at both the Indoor and Outdoor NCAA Division III National Championships. 42°20′12″N 71°05′42″W  /  42.336611°N 71.095019°W  / 42.336611; -71.095019 Incorporation (business) Incorporation

1058-831: The Massachusetts College of Art and Design , Northeastern University , the Massachusetts College of Pharmacy and Health Sciences , and the Museum of Fine Arts . Wentworth is a member of the Colleges of the Fenway consortium, and shares many facilities and activities with nearby institutions. With this membership, Wentworth students are entitled to register for course with participating neighboring institutions at no additional cost. Total enrollment (2022): 3,920 total (3,713 undergraduate and 207 graduate students) Wentworth Institute of Technology's athletic teams are nicknamed

1104-610: The United States major institutions like The New York Athletic Club and Los Angeles Athletic Club serve as athletic clubs that participate in multiple sports. Examples also abound of sports clubs that are in effect one sports team. Each team from the NFL (American football), CFL (Canadian football), NBA (basketball), MLB (baseball), NHL (ice hockey) or MLS (association football) North American sports leagues , can be called sports clubs, but in practice, they focus solely on

1150-462: The right to contract and the government changing that contract was not allowed. Chief Justice John Marshall delivered the majority opinion and affirmed that the right to contract exists between owners of private property rather than between a government and its citizens. The case was the first case in US history that asked fundamental questions about corporate entities and the protections they enjoy; it also

1196-507: The "Inc." is the legal ending. The legal ending indicates that it is in fact a legal corporation and not just a business registration or partnership . Incorporated, limited , and corporation, or their respective abbreviations (Inc., Ltd., Corp.) are the possible legal endings in the US. Usually, there are also corporate bylaws which must be filed with the state. Bylaws outline a number of important administrative details such as when annual shareholder meetings will be held, who can vote and

1242-400: The actual share value. In reality, the value of a share is based on its fair market value or the amount a buyer is willing to pay. An Inc. stipulates the exact number of shares the corporation is willing to authorize. It is mandatory for every corporation to have stock. If the corporation is willing to permit both preferred as well as common shares of stock, then this should have a mention in

1288-401: The amount of losses a corporation may carry forward to subsequent tax years. A sole proprietorship, on the other hand, cannot claim a capital loss greater than $ 3,000 unless the owner has offsetting capital gains. A corporation is capable of continuing indefinitely. Its existence is not affected by the death of shareholders, directors, or officers of the corporation. Ownership in a Corp. or LLC

1334-399: The amount they have invested in the corporation. For example, if a shareholder purchased $ 100 in stock, no more than $ 100 can be lost. On the other hand, a corporation (Corp.) or a limited liability company (LLC) may hold assets such as real estate, cars or boats. If a shareholder of a corporation is personally involved in a lawsuit or bankruptcy , these assets may be protected. A creditor of

1380-402: The articles of incorporation, along with the voting rights information. Generally, preferred shares provide its shareholders preferential payments of distribution of assets or dividends, in case the company shuts down its operations. A lot of small business owners only allow shares of common stock. There are a number of legal benefits that come with incorporation. One significant legal benefit

1426-638: The athlete's services. In many regions of the world like Europe , North Africa , West Asia , the Indian subcontinent or Central and South America , sports clubs with several sports departments (multisports clubs) or branches, including highly competitive professional teams, are very popular and have developed into some of the most powerful and representative sports institutions in those places. In general, student sports can be described as composed by multisports clubs, each one representing its educational institution and competing in several sport disciplines. In

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1472-596: The colleges but by student organizations (see National Club Football Association and American Collegiate Hockey Association for two leagues consisting entirely of college "club" teams in American football and ice hockey , respectively). In the United Kingdom , almost all major sports organisations are dedicated to a single sport, the exception to this is Cardiff Athletic Club based in Cardiff , Wales, which

1518-471: The court ruled that there could be a corporate tax, essentially saying the structure of business was a justifiably discriminatory criterion for governments to consider when writing tax legislation. This was a unique ruling handed down during a unique time in US history that denied a corporation freedom it sought in the courtroom. From 1940 to 1990 the percent of total GDP made up by financial service professionals increased by 300%. Along with that growth there

1564-447: The entire season, and have the right to practice almost every kind of sport at the club's facilities. Registered associate member fees, attendance receipts, sponsoring contracts, team merchandising , TV rights, and athlete/player transfer fees , are usually the primary sources of sports club financing. In addition, there are sports clubs, or its teams, which are publicly listed - several professional European football clubs belonging to

1610-523: The field of competitive club sports, an athlete will typically be registered to only one club for a given discipline and will compete for that club exclusively for the duration of a competition or season. Exceptions to this include player trades and transfers, athlete loan agreements and unattached trialists. Where an athlete competes in multiple disciplines, or where club membership has social or training aspects such as local athletic clubs, then athletes may register with multiple clubs. Multiple membership

1656-471: The incorporated tasks a company has to do or provide. The purpose can be general, indicating that the budding company has been formed to carry out "all lawful business" in the region. Alternatively, the purpose can be specific, furnishing a more detailed explanation of the products and/or services to be offered by their company. The chosen name should be followed with a corporate identifier such as "Corp.", "Inc.", or "Co.". A preliminary name availability search

1702-618: The institute admitted its first female students. In 1973, Wentworth instructors unionized to join the American Federation of Teachers and on October 28, 1977, the teachers of Wentworth went on strike. In 1977, the college's lower and upper divisions merged as the Wentworth Institute of Technology . Wentworth acquired the former Ira Allen School building from the city of Boston in 1980 and the former Boston Trade High School in 1983. In November 2009, Wentworth became

1748-402: The issue of corporate contributions came before the court again. In Citizens United v. FEC the court said there was virtually no distinction between monetary contributions and political speech, and because we do not limit political speech unless it is tantamount to bribery, corporations have the right as people to donate unlimited amounts of money to any political cause so long as it is not to

1794-426: The late 19th into the early 20th centuries came to a screeching halt in 1929. The Great Depression , as it came to be known, helped a view of corporations emerge that put them at odds with the normal working man. The election of Franklin D. Roosevelt was a manifestation of many populist sentiments the country might have felt. In 1933 a Florida case came before the court, again disputing taxation. In Liggett v. Lee

1840-535: The manner in which shareholders will be notified if there is need for an additional "special" meeting. Corporations can only deduct net operating losses going back two years and forward 20 years. Assuming a corporation has not sold stock to the public, conducting corporate business is straightforward. Often, it amounts to recording key corporate decisions (for example, borrowing money or buying real estate) and holding an annual meeting. These formalities can often be supplanted by written agreement and do not usually need

1886-762: The process of incorporation can be done either at the federal or provincial level. Companies which incorporate with the federal government will generally need to register extra-provincially in the province that they elect to do business. Similarly, a provincial corporation may need to register extra-provincially if they are to have offices outside of their home province. Incorporated Canadian companies can generally use either Corp., Corporation, Inc., Incorporated, Incorporée, Limited, Limitée, Ltd., Ltée, Société par actions de régime fédéral, and S.A.R.F in their name, but this may vary from province to province. Note that there are two government structures operating within Canada. French system

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1932-734: The several sports teams owned by Red Bull GmbH and collectively known as Red Bulls . Other examples of this are the several sports teams owned by Bayer AG and Philips corporations through the Bayer 04 Leverkusen and PSV Eindhoven respectively, that originally were works teams , the teams owned by the Samsung Group ( Samsung Sports ), and the teams owned by the Anschutz Entertainment Group (AEG). They may compete in several different sports and leagues, being headquartered in some cases across several countries. In

1978-432: The tax code was misapplied to some of their property and assets. In deciding the case, a unanimous court ruled that governments must abide by the same tax code enforcement for individuals that it did for corporations. While not explicitly stated in the case, it was implied that this case extended equal protection rights to corporations under the 14th amendment . The booming economy the railroad corporations helped build from

2024-609: Was a growth in the profits this industry experienced as well. As the disposable income of banks and other financial institutions rose, they sought a way to use it to influence politics and policy. In response, Massachusetts passed a law limiting corporate donations strictly to issues related to their industry. The First National Bank of Boston challenged the law on First Amendment grounds and won. First National Bank of Boston v. Bellotti allowed business to use financial speech in political causes of any nature. In 2010 amidst an outpouring of frustration and blame directed at Wall Street

2070-563: Was a precedent-setting case in extending "individual rights" to corporations. The railroad was an expensive multi-year project that greatly changed and altered both the physical and commercial landscape of the country. As with most new technology developments that have a broad impact, there are disputes about how those technologies and the businesses they thrive in fit under the umbrella of laws that govern regulations and taxation. In 1886 one such taxation dispute arose between Santa Clara County and Southern Pacific Railroad . The railroad thought

2116-500: Was ranked #33 amongst Regional Universities North by U.S. News & World Report . The Wentworth campus is located in the Fenway neighborhood of Boston. It consists of 15 buildings for administrative and faculty offices, classrooms, laboratories, library, and athletic facilities. Students enrolled for full-time study may live in one of seven residence halls near the main campus buildings. The institute's collaborating neighbors include

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