Business Law (Corporation) Activity 2 And 3

O LA N O , Roxa ne May M. BusL aw Activ it y 2 & 3 B SA 2-1 Ex ercises 2: 1. In what way corporation, partnership, and cooperative differ and what are their similarities. (10 points) Corpor ations, partnership and cooperatives requir e formal registr ation and go vernment compliance, engage in commercial or economic activities but are considered as legal personalities from their owners. Corpor ation, under the Revised Corporation Code of the Philippines (RA 11232), is an ar ticial being created by law with a separate legal personality. Cooperative, under the Cooper ative Code of the Philippines (RA 9520), is an autonomous association of persons who v oluntarily cooperate for mutual social and economic benets. Whereas partnerships ar e r egister ed with the SEC in the Civil Code of the Philippines, corporation, and cooperatives, ar e under diff erent law for juridical personality; on formation both Corporation and P ar tnership with Securities and Exchange Commission, yet the formalities are not compar able to Par tnership Cooperatives under different law registering in the Cooperative De velopment Authority (CDA). Diff erent goals characteriz e all them in terms of purpose. Corporations primarily oper ate for