Task 1: Classes of Corporation: Definition and Example

1. Foreign Corporation- is one organized and incorporated under foreign laws.

Example- Nestlé Philippines
2. Domestic Corporation- is organized and incorporated under Philippine laws.
Example- Ayala Corporation
3. Public Corporation- is one whose shares of stock are traded in public markets.
Example- Jollibee Foods Corporation
4. Private Corporation- is one whose shares are not traded publicly and organized by private
individuals for private purpose, aim or benefit.
Example- CyBERTH Philippines Inc.
5. Quasi–Public Corporation – is a public corporation that has accepted a grant from the
state or a franchise to perform public duties.
Example- Manila Electric Company (Meralco)
6. Stock Corporation– is one whose ownership is divided into units called shares of capital
stock.
Example- LT Group Inc.
7. Non-stock Corporation–is one that is not organized for profit.
Example- Habitat for Humanity Philippines
8. Religious Corporation- is one organized for religious purposes primarily compose of
spiritual persons.
Example- Philippine Benevolent Missionaries Association
9. Lay corporation – is one organized for non-religious purposes.
Example- Aeons Trading
10. Open Corporation (Listed or Not Listed)- is one that is offered to public investor.
Example- 2Go Group, Inc.
11. Close Corporation- is one whose shares are limited to few persons and its shares are not
available for purchase by the public.
Example- Energitech Industrial Corp,
12. Corporation Sole – consists of only one corporator.
Example- Iglesia ni Cristo
13. One Person Corporation – operated and organized by a one stockholder, who can only be
a natural person, trust or estate.
Example- Smart Transportation and Solution
14. Corporation Aggregate- consist of more than one corporator
Example- Concrete Aggregates Corporation
15. Civil Corporation- one that is established for business or profit.
Example- San Miguel Corporation
16. Eleemosynary Corporation –one that is established for charity.
Example- The Children’s Joy Foundation, Inc.
17. De jure Corporation- is one that exists in fact and law
Example- JG Summit Holdings, Inc.
18. De facto Corporation –is one that exists and not in law.
Example- Far Eastern Lumber and Commercial Co.