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Real0ne -> RE: Pissed Off!: 67 Percent Of Americans Are Dissatisfied With The Size And Influence Of Major Corpora (2/5/2011 6:32:20 AM)
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"The word franchise is generally used to designate a right or privilege conferred by law. What is called 'the franchise of forming a corporation,' is really but an exemption from the general rule of the common law prohibiting the formation of corporations.
An incorporated political subdivision of a state that is composed of the citizens of a designated geographic area and which performs certain state functions on a local level and possesses such powers as are conferred upon it by the state.
A municipal corporation is a city, town, village, or borough that has governmental powers.
A municipality is a city, town, village, or, in some states, a borough. A corporation is an entity capable of conducting business.
Cities, towns, villages, and some boroughs are called municipal corporations because they have the power to conduct business with the private sector.
Generally, the authority to govern the affairs within a state rests with the state legislature, the governor, and the state judicial system. However, states give localities limited powers to govern their own areas. The origin of the municipal corporation varies from state to state. Municipal corporations are given the power to govern through either the state constitution or state statutes, or through the legislative grant of a charter.
Gotta love the word GOVERN in the same sentence with BUSINESS!
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