What is a Corporation? Corporations have 5 main characteristics. Identify the characteristic that allows the behavior described below.

1. The corporation makes employment contracts with its employees.
2. Bill sells his ownership in Company X to HyeJin.
3. Bongsoo has big personal debts. Bongsoo owns shares in Company Z. Company Z refuses to pay Bongsoos debts.
4. Shareholders select a group of people to set broad targets for company goals and performance
5. Hyunwoo owns 10% of Company T. He gets dividend payments after the company makes a profit.
6. Hyunwoo owns 10% of Company T. He gets to vote on fundamental changes to the company.
7. 587 people own shares in Company R on January 1. 938 people own shares in Company R on December 31.
8. Kwansoo owns shares in Company W. Company W goes bankrupt. Kwansoo refuses to pay the company debts.
9. Company S buys a new computer system.
10. Company T is a closed corporation.
11. Company D is an open corporation.
12. Shareholders of Company U elect its board.
13. Company U goes bankrupt. It does not have enough money to pay its employees. Jerry is a shareholder of Company U. Jerry refused to pay employee salaries.
14. Eunbi buys newly created shares in in Company V.
15. Company P is an unlisted company.
16. Company B is a closely held corporation.
17. Perry benefits from owner shielding.
18. Company E benefits from entity shielding
19. Floria invests in a company but fears losing her personal money in her savings account at the bank. What will protect her?
20. Employees steal from Company K. Company K sues the employees.