De Jure Corporation Definition and Legal Meaning
On this page, you'll find the legal definition and meaning of De Jure Corporation, written in plain English, along with examples of how it is used.
What is De Jure Corporation?
A business that has fulfilled all the legal requirements to be a corporation and stands clear in the eyes of law (as opposed to de facto corporation).
History and Meaning of De Jure Corporation
A de jure corporation is a legal entity that has fulfilled all of its legal requirements to be established and operates within the framework of its charter as sanctioned by law. It is the legal opposite of a de facto corporation which operates as a corporation without complying with the legal formalities for incorporation.
For a corporation to be recognised as a de jure corporation, it must adhere to specific processes, including filing articles of incorporation, registering with the Secretary of State, holding initial and annual meetings, and issuing bylaws. A de jure corporation is entitled to the rights and benefits of a legal entity, including limited liability and perpetual existence.
Examples of De Jure Corporation
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Nike Inc., headquartered in Oregon, is a well-known de jure corporation, which is a publicly traded company and manufacturer of sportswear and footwear.
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Exxon Mobil Corporation, a multinational oil and gas company, is also a de jure corporation that is listed on the Dow Jones Industrial Average.
Legal Terms Similar to De Jure Corporation
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De facto corporation - A corporation that functions as if it were legally incorporated, but has not met the legal formalities required for incorporation.
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Charter - A legal document that establishes the existence of a corporation or other legal entity.
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Limited liability - A legal principle that protects the personal assets of shareholders of a corporation from the debts or liabilities of the corporation.
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Perpetual existence - A legal characteristic that allows a corporation to continue to exist even after the death or departure of shareholders, directors, or officers.
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Corporation - A legal entity that is separate from its owners, with the ability to conduct business, own assets, and accumulate profits or losses.