IDENTIFICATION

1. One who brings about or causes to bring about the formation and organization of a corporation by bringing together the incorporators or the persons interested in the enterprise, procuring subscriptions or capital to the corporation and setting in motion the machinery which leads to the incorporation of the corporation itself

2. It is a principle of law which ordains that the corporation has separate legal personality from the stockholders, directors, and officers composing it

3. It means that the liability of a stockholder who is not a director, officer or agent of the corporation, is limited to the subscription to the capital stock of the corporation.

4. It allows the State to disregard , for certain justifiable reasons, the fiction that the corporiation has a separate legal personality from those composing it.

5. It has a capital stock divided into shares and is authorized to distribute to the holders of such shares dividends or allotments of the surplus profits based on the shares held.