...The importance of corporate brand personality traits to a successful 21st century business Received (in revised form): 22nd April, 2006 KEVIN LANE KELLER is the EB Osborn Professor of Marketing at Tuck School of Business, Dartmouth College. Keller has served as brand confidant to marketers for some of the world’s most successful brands, including Disney, Ford, Intel, Levi Strauss, Nike, Accenture and Starbucks. He wrote the textbook Strategic Brand Management: Building, Measuring and Managing Brand Equity and co-authored with Philip Kotler the textbook Marketing Management. KEITH RICHEY is an independent consultant working in New York. He holds a joint Master’s degree in Global Media and Communication from the University of Southern California and the London School of Economics. Keywords corporate branding; corporate image; corporate values; brand personality; brand personality traits; corporate brand personality Abstract Brand personality has been defined as the human characteristics or traits that can be attributed to a brand. Corporate brand personality is a form of brand personality specific to a corporate brand. Unlike a product brand personality that typically relates to consumers and user imagery for a specific product brand, a corporate brand personality can be defined in terms of the human characteristics or traits of the employees of the corporation as a whole. A corporate brand personality will reflect the values, words, and actions of all employees of the...
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...Running Head: Business Law Business Law Oweya Vincent Makaya University of Nairobi THE COMPANY AS A JURISTIC PERSON VERSUS RESPONSIBILITY FOF THE DIRECTOR’S ACTIONS. Introduction: For a very long time a company has been treated as a corporate entity or a juristic person. In fact the concept of limited liability stems from this premise. Despite being an artificial person a company is wholly a creature of human beings, by human beings and for human beings. It solely rely on humans to conduct and transact any business. This research paper seeks to examine the concept of juristic personality, its advantages and its relationship with its owners. It delves into how decisions are made by this juristic personality, its liabilities and liabilities of those running it. The paper shall seek to examine if this veil of juristic person exists permanently or it can be lifted. What are the consequences of lifting that gown of juristic personality? The Concept of juristic personality. Companies and corporations are said to be legal or juristic personalities. This arises from the incorporation process. A corporation is a word that is said to have been derived from a Latin word corpus which means among other things “body”. An incorporated body becomes what is known as a “corpora coporata” in Latin or corporate body. The idea of a juristic person in law refers to an entity recognized in law as an artificial person. What this means is the entity recognized...
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...separate legal entity is that the company is regarded as a legal person distinct from any and all of the individuals involved in the company by incorporation of a projected or existing enterprise. Under s15(1) of the Companies Act 2006, companies which are registered become incorporated and separate legal persons on registration. As a consequence of the existence of a distinct legal entity, a company has the capacity to be a party to a contract, sue or being sued, commit a crime, be the victim of a crime, hold property, and rationally, thus, make profits and losses that are its own rather than those of the shareholders of the company. The Principle of Separate Legal Personality The importance of the corporate personality which was created by statute in the first half of the nineteenth century was not fully appreciated until the well-known case of Salomon. This case firmly established the operation of the concept of the separate legal personality of a company under the Companies Act of 1862 and this principle is still existed in the Companies Act of 2006 today under the UK Company Law. The Salomon case makes it clear that it is possible for a sole trader owner to transfer a small business into a registered company and hence separate himself from the liabilities of the business. In this case, Salomon carried on a boot and shoe manufacturing business as a sole proprietor. In 1892, he registered a company and sold his profitable business to that company for the purpose of incorporating...
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...MERITS OF CORPORATE PERSONALITY A corporate person (s) is a separate legal business entity created under state laws by an owner or group of owners who become initial shareholders. According to Sec. 3 (1) (ii) of the Companies Act, 1956; a company means a business entity formed and registered under the Companies Act, 1956 or any of the preceding Acts. A Company comes into existence only by registration under the Act, which can be termed as incorporation. Thus, a company is a legal person. The primary advantage of a corporate form of business is that a corporation is a stand-alone entity, which means you are not personally liable for the assets and debts of the business. Incorporating protects your personal assets from lawsuits, debt collection and other business issues that can arise. Other merits of a corporate personality are as follows: 1) Independent corporate existence- the outstanding feature of a company is its independent corporate existence. By registration under the Companies Act, a company becomes vested with corporate personality, which is independent of, and distinct from its members. A company is a legal person. The decision of the House of Lords in Salomon v. Salomon & Co. Ltd. (1897 AC 22) is an authority on this principle: It was argued on behalf of the unsecured creditors that, though the co was incorporated, it never had an independent existence. It was S himself trading under another name, but the House of Lords held Salomon & Co. Ltd. must...
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...in this essay one is required to discuss whether section 163 (4) of the Companies Act, No 71 of 2008 codified the common law approach in piercing the corporate veil i.e. to what extent did the 2008 Act brought some certainty regarding to the grounds in which the courts will disregard the juristic existence of a company. To achieve this I’m going to first explore the position of common law in this field of law. As a point of departure, the company is equal in law to a natural person. This is one of the cornerstones of South African company law, and has been since 1897 handed down in the Salomon case namely that a company is a legal entity distinct from its shareholders. It allows a company to perform juristic acts in its own name, as well as to sue and to be sued. Further, members and directors enjoy protection against personal liability. The corporate veil is a fundamental aspect of a company law and is a protective stratagem for those who exist behind it . Although this fundamental rule has a considerable influence in company law, it cannot be absolute and, as such, according to the case of Lock harts ltd v Excalibur Holdings ltd it can be saved for certain exceptions (where the courts may disregard the separate legal personality of the company) Herron CJ in Commissioner of Land Tax v Theosophical Foundation described lifting of the corporate veil as an ‘esoteric’ label, stating further that authorities in which the veil of incorporation has been lifted have not been of...
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...the effects of corporate separate personality. The fundamental concept of corporate separate personality recognises that a company, once incorporated, becomes a ‘body corporate’, i.e. a legal entity distinct from its members and officers. The various effects of corporate separate personality shall be dealt with in turn. 1) Distinct legal identity from its members One of the most significant effects of corporate separate personality is that the company assumes a separate identity from that of its members. Even if a company is owned outright by one shareholder, the company has a completely separate personality from that individual. This is confirmed by the leading case of Salomon v A. Salomon & Co Ltd in which the House of Lords held that the company’s acts were its own acts, not those of Mr Salomon personally. As a result, Mr Salomon was not personally liable for his company’s debts. It is worth noting, however, that the Court did recognise that there would be situations in which they would be prepared to move away from that principle and ‘lift the veil of incorporation’ and find individuals liable where they had acted dishonestly, fraudulently or unreasonably. 2) Limited liability Due to the fact that the company is a separate legal individual, it follows that its members will not generally be liable for its debts and obligations. This gives the shareholders a great level of security, since it means that they are able to profit from the successes of the company whilst being...
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...OF PIERCING THE CORPORATE VEIL: ITS LEGAL AND JUDICIAL RECOGNITION IN ETHIOPIA Endalew Lijalem Enyew ♣ Abstract: Upon acquisition of legal personality a company enjoys certain attributes such as limited liability. While the separate legal personality of a company enables it to enjoy rights and assume obligations quite different from its members, the limited liability of shareholders refers to the fact that the company alone is liable for its debts. However, such privilege of limited liability may not always exist when the legal personality of a company is abused and used for illegitimate or unlawful purposes and other reasons. This article examines some of the grounds by which the corporate veil can be pierced under Ethiopian law and the role of courts in recognizing the doctrine. Based on the analysis of the relevant legislative provisions and some court cases, it is found that Ethiopian company law, though not sufficient, provides some clear grounds of piercing the corporate veil and certain possible grounds which may call for the application of the doctrine. It is also argued that Ethiopian courts should apply the doctrine of piercing the corporate veil, through the purposive interpretation of the statutory provisions, if doing so produces equitable results and fairness. Key Words: Company, corporate veil, piercing the veil, Ethiopia DOI http://dx.doi.org/10.4314/mlr.v6i1.3 _____________ Introduction The separate legal personality of a company renders it a juridical...
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...Corporate perception, productivity, and morale are improved with employing individuals with tattoos. Tattoos have their place in every culture including 21st century America. The notion of only bikers and harlots having tattoos is as outdated as those who use the term ‘harlot’ – today everyone from the leader of the PTA to politicians and CEOs are tattooed. The bias against tattooed individuals extends far beyond name calling, for some individuals it can even extend to the ability to be hired or promoted, however as the number of tattooed individuals increases so does the opportunity for companies to take advantage of the unique benefits that having a tattoo offers, just as many extremely successful companies are realizing. Despite the negative outlook some people have on tattoos in the workplace, employing tattooed individuals improves overall perception of the company, increases...
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...CONTENTS Introdcution ...................................................................................................................................................................2 Definition of a Company ............................................................................................................................................2 Features of a Corporation ..........................................................................................................................................3 Difference Between a Company and Its personnel .......................................................................................................4 Shareholders ..............................................................................................................................................................4 Directors ....................................................................................................................................................................4 Directors as agent: .................................................................................................................................................5 Directors as Trustees: ............................................................................................................................................5 The Veil of Incorporation ............................................................................................................................
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...Introduction: Companies are the dominant form of business association. The fundamental concept of company law was developed based on a case decided more than 100 years ago in the UK’s House of Lords. The case of Salomon established a maxim that a company is a separate legal entity distinct from its members. When a company is formed, it is said to have become “incorporated”. Thus it is a separate legal entity or a legal ‘person’ it has features that have given a company certain capabilities under the realm of law. The capabilities would include employing personnel, making contract, owning property, paying taxes and so on. A company can also sue and can be sued. Under the eye of the law, anything that is capable of rights and duties is a person and thus has a personality. Persons can be of two types under the eye of law (i) natural persons and (ii) artificial persons. Natural persons are human beings and artificial persons are those created for the purpose of laws known as corporations or companies. As soon as a company is registered under the company act, it attains the status of a person that can buy, lend money, file and defend suit, sell goods and hold property. One of the major features of a corporation from the very beginning is that the owners/shareholders enjoyed limited liability, which means, the owners were not liable for the debts of the company. Before the industrial Revolution it was only the persons who could be sued or sue. Thus, when a corporation breached a...
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...Corporate Reputation Review Volume 5 Numbers 2 and 3 Gaps Between the Internal and External Perceptions of the Corporate Brand Gary Davies and Rosa Chun Manchester Business School Corporate Reputation Review, Vol. 5, Nos. 2/3, 2002, pp. 144–158 # Henry Stewart Publications, 1363–3589 Page 144 ABSTRACT The corporate branding and reputation literatures both refer to the significance of gaps between the employee and customer perceptions of the corporate brand. There is a generally held view that the two perspectives should be aligned. In particular there is a view that any gaps between the two should be reduced. In this study a standardized ‘Corporate Personality Scale’ was used, to measure the employee perceptions (referred to as identity) and customer perceptions (referred to as image) of the corporate brand image of two department stores. The stores were both part of the same group, but traded under different names and in different locations. Gaps were identified between the image and identity for both stores. In one, the image was found to be superior to the identity. In the other, the identity was superior to the image. The former store had benefited from a substantial investment in store redesign but investment in staff and their training had been neglected. The results are discussed within the theory of retail marketing and the more general work on corporate branding. Some practical implications are identified. If image and identity co-evolve...
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...Name: Neyamul Hoque ID:1020180530 Sec:8 LAW 200 Statement Analysis: “A company at law is distinct from its members. A Director is neither an agent nor a trustee of a company” To: Barrister Shaheen Ahmed (ShD) Date: 07.04.2014 Introduction The main inspiration for forming a corporation or company is the limited liability it offers to its shareholders. This policy allows the shareholders to lose only what he has contributed as shares to the corporate entity and nothing more. However, there is a major exception to the general concept of limited liability. There are certain circumstances in which courts will have to look through the corporation, that is, lift the veil of incorporation, and hold the shareholders of the company personally liable for the obligations of the corporation. The veil policy is raised when shareholders shape the distinction between the corporation andthe shareholders. It is an important aspect of the law that although it is a separate legal entity, a company or corporation can only act through human agents that it is comprised of.Under the company law or corporate law, a corporation is specifically referred to as a legal person who is a subject to rights and duties and is capable of owning real property, entering into contracts, and...
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...HI5027 Corporate Law About companies § Introduction to companies § The architecture of companies § Historical development § Separate legal personality Week 1 Introduction to Companies Company Law HI5027 Corporate Law Holmes Institute 2011 2 Introduction to companies Companies § What are companies and why do we have them? § What are the key attributes of a company? § The dominant form of business organisation § Over 1.7 million companies in Australia § Created through a process of registration under statute - an artificial legal person § Have the special legal attribute of separate personality HI5027 Corporate Law Holmes Institute 2011 3 HI5027 Corporate Law Holmes Institute 2011 4 What is the purpose of companies? Small and large companies § Traditionally, a means by which a large group of people with capital and management resources could come together to conduct an enterprise on an ongoing basis § Now also widely used for small business and by individuals § Most companies are small businesses § About 2,000 companies are listed. (Listed companies are companies in which you can buy or sell shares through the ASX.) HI5027 Corporate Law Holmes Institute 2011 5 HI5027 Corporate Law Holmes Institute 2011 6 1 The architecture of companies Capital structure § Capital structure Ø equity capital (shares) Ø debt capital § Management structure Ø board of directors and other officers Ø members (shareholders) ...
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...------------------------------------------------- Course: Company Law ------------------------------------------------- ------------------------------------------------- Assignment: Discussing the Legal personality of Companies ------------------------------------------------- ------------------------------------------------- Submitted to: Termpaperwarehouse.com ------------------------------------------------- ------------------------------------------------- Submitted by: Paclin ------------------------------------------------- ------------------------------------------------- Date Submitted: 25th March 2014 ------------------------------------------------- ------------------------------------------------- Lord MacNaughten stated that, “The company is at law a different person altogether from the subscribers to the memorandum: and although it may be that after incorporation the business is precisely the same as it was before, and the same persons are managers, and the same hands receive the profits, the company is not in law the agent of the subscribers or trustees for them”. The significance of what Lord MacNaughten stated starts to raise some of the important values of modern company law. I do agree the separate legal personality of a company is usually the explanation as to why a company has been chosen for the conduct of some business enterprise. The persons associated in the company and interested in the enterprise have only limited exposure to the liabilities of the company. In terms of section 21...
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...partner, so Mr. Salomon business into a limited company. Then according to the company law, set up a company to be at least 7 shareholders holding at further 1 share each. So, Mr. Salomon gave himself a shares, also gave him a share of his wife and five children. Mr. Salomon company 20007 shares, but he holds 20001 shares, and his family members each have a share. With the passage of time, Mr. Salomon's company faces the difficulty. In order to raise funds, and also the company, Mr. Salomon sold its own debt to Benedick. To raise the money but can't let company to prevent more problems, because the money is used for business. Creditors discovered the money just can be used to repay the debt creditors holding it, it's considered a secured creditor. This event will be brought to the court or the Supreme Court. They all think that creditors cannot recover their entire debt contract with the company, so not with Mr. Salomon. After a series of the appeals, it is considered by Salomon v Salomon & Co Ltd is a company, with separate legal personality qualification, so also can’t say Mr. Salomon owned by the company. The company and Mr. Salomon have two legal persons in the law. So it is has the right to enter into a contract. The principle in Salomon are a company must be an independent legal person, but from other members or shareholders. The principle of Salomon must also know the veil of incorporation of the company. If a company will formally merge, courts usually don’t see the...
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