Intermediary corporation
Encyclopedia
An is a type of corporation
which existed under Japanese law
from 2002 until 2008. It was superseded by the on December 1, 2008.
The intermediary corporation was designed to bridge the gap between companies
which work for profits and NGO and other nonprofit organizations which work for public interest. Prior to the enforcement of the law on April 1, 2002, excepting the labor union whose establishing rules were regulated under specific laws, voluntary groups such as a condo association board and hobby club were operated under informal agreements and their assets were registered with one or more of group members. However, this meant that in the absence or negligence of the goodwill by the member registering assets, group's assets could be appropriated without becoming a criminal case. While they could be reclaimed through a civil suit, this does not resolve the problem of the ownership of assets. The intermediary corporation and its associated laws were designed to protect the group's assets while limiting the potential of lawsuits against individual members.
There were two types of intermediary corporations. were designed to resemble yūgen kaisha
(limited companies) in formation and function, while were closer to gomei kaisha (general partnership corporations).
Corporation
A corporation is created under the laws of a state as a separate legal entity that has privileges and liabilities that are distinct from those of its members. There are many different forms of corporations, most of which are used to conduct business. Early corporations were established by charter...
which existed under Japanese law
Japanese law
-Historical Developments:Pre-Modern History The early law of Japan was heavily influenced by Chinese law. Little is known about Japanese law prior to the seventh century, when the Ritsuryō was developed and codified. Before Chinese characters were transplanted and adopted by the Japanese, the...
from 2002 until 2008. It was superseded by the on December 1, 2008.
The intermediary corporation was designed to bridge the gap between companies
Company
A company is a form of business organization. It is an association or collection of individual real persons and/or other companies, who each provide some form of capital. This group has a common purpose or focus and an aim of gaining profits. This collection, group or association of persons can be...
which work for profits and NGO and other nonprofit organizations which work for public interest. Prior to the enforcement of the law on April 1, 2002, excepting the labor union whose establishing rules were regulated under specific laws, voluntary groups such as a condo association board and hobby club were operated under informal agreements and their assets were registered with one or more of group members. However, this meant that in the absence or negligence of the goodwill by the member registering assets, group's assets could be appropriated without becoming a criminal case. While they could be reclaimed through a civil suit, this does not resolve the problem of the ownership of assets. The intermediary corporation and its associated laws were designed to protect the group's assets while limiting the potential of lawsuits against individual members.
There were two types of intermediary corporations. were designed to resemble yūgen kaisha
Yugen kaisha
A yūgen gaisha or yūgen kaisha is a form of business organization in Japan....
(limited companies) in formation and function, while were closer to gomei kaisha (general partnership corporations).