LYCOS RETRIEVER 
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PHOENIX, June 24 /PRNewswire-FirstCall/ -- Global payment technology leader Hypercom Corporation (NYSE: HYC) today announced that two additional firms have initiated research coverage on the company within the past week. Monness, Crespi, Hardt & Co., Inc. initiated research coverage effective Friday, June 18, 2004.
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The modern business corporation's prevalence often obscures the fact that for years other corporate entities existed, before the emergence of the modern business corporation, for example, church, educational and charity corporations. Investors and entrepreneurs often form joint stock companies and then incorporated them to facilitate conducting business; as this business entity now is prevalent, the term corporation often is used to specifically refer to such business corporations. Corporations may ... be formed for local government (municipal corporation), political, religious, and charitable purposes (not-for-profit corporation), or for government programs (government-owned corporation). As a generic legal term, 'corporation' means any group of persons with a legal personality. Historically, the modern business corporation emerged from the blending of the traditional corporation with the joint-stock company.
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The law treats a corporation as a legal "person" that has standing to sue and be sued, distinct from its stockholders. The legal independence of a corporation prevents shareholders from being personally liable for corporate debts. It ... allows stockholders to sue the corporation through a derivative suit and makes ownership in the company (shares) easily transferable. The legal "person" status of corporations gives the business perpetual life; deaths of officials or stockholders do not alter the corporation's structure.
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The standard corporation... called a C corporation, is the most common corporate structure. The corporation is a separate legal entity owned by the shareholder(s). Because of this, the shareholders cannot be held personally responsible for the debts of the corporation. The shareholders’ personal liability is typically limited only to the amount the shareholder invested in the company.
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The alleged oldest commercial corporation in the world, the Stora Kopparberg mining community in Falun, Sweden, obtained a charter from King Magnus Eriksson in 1347. Many European nations chartered corporations to lead colonial ventures, such as the Dutch East India Company or the Hudson's Bay Company, and these corporations came to play a large part in the history of corporate colonialism.
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