The right to exist and do business as a corporation, the right or privilege granted by the state or government to the persons forming an aggregate private corporation, and their successors, to exist and do business as a corporation and to exercise the rights and powers incidental to that form of organization or necessarily implied in the grant. Bank of California v. San Francisco, 142 Cal. 276. 75 Pac. 832. 64 L. R. A. 91S. 100 Am. St. Rep. 130; Jersey City Gaslight Co. v. United Gas Imp. Co. (C. C.) 46 Fed. 264: Cobb v. Durham County, 122 N. C. 307. 30 S. E. 338: People v. Knight, 174 N. Y. 475, 67 N. E. 65, 63 L R. A. 87

More On This Topic

Link to This Definition
Did you find this definition of CORPORATE FRANCHISE helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary