foreign corporation

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foreign corporation

n. a corporation which is incorporated under the laws of a different state or nation. A "foreign" corporation must file a notice of doing business in any state in which it does substantial regular business. It must name an "agent for acceptance of service" in that state, or the Secretary of State in some jurisdictions will automatically be that agent so people doing business with a foreign corporation will be able bring legal actions locally if necessary. Example: the Whoopee Widget Corporation is incorporated in Delaware. It has a sales office in Arizona, which does not make a guaranteed refund to Jack Jones of Arizona. Jones can sue Whoopee in Arizona and serve the Arizona Secretary of State or Whoopee's designated agent.

References in periodicals archive ?
China's National Development and Reform Commission is investigating five foreign companies and one Chinese company for allegedly violating market competition laws by manipulating retailers to sell infant formula at inflated prices.
Rejab Safarov told the oil ministry's website that domestic and foreign companies were highly motivated to showcase their latest achievements at Iran's 18th International Oil, Gas, Refining and Petrochemical Exhibition despite US and EU sanctions and negative propaganda against Iran.
Slamming the UPA II Government for various scams, Baba Ramdev said efforts need to be made to protect India from foreign companies, and added that corruption has made the nation bankrupt.
Local companies can compete and even beat foreign companies. Look at the Tubli flyover built by Nass in less than a year.
Addressing the ceremony, head of Iran Auto Part Manufacturing Association Mohammad Bagher Rejal said that some 350 domestic and foreign companies have attended the event.
ARBIL / Aswat al-Iraq: Some 500 Arab and foreign companies will participate in the 4th Arbil International Fair that starts in mid-October, the fair's supervisor said on Saturday."There will be a remarkable participation of foreign companies in this year's edition of the annual five-day event," Abdullah Ahmed said in a press conference in Arbil city."Five-hundred companies from 22 countries will take part in this year's fair on October ," he said.He said among those 500 participants, there are 300 foreign companies.Arbil is the capital city of the Iraqi Kurdistan region.
Foreign companies tend to underestimate their exposure to legal liability in Japan because of the comparatively low level of litigation.
But the government has withdrawn the offer for foreign companies to develop fields under 23-year production sharing agreements (PSAs - see the PSA approach in the 1999 Iraq survey in Vol.
As the Islamic republic's constitution does not allow the granting of concessions, the government in 1990 worked out a buy-back formula under which foreign companies developing oil or gas fields are repaid their cost and given an agreed rate of return from initial production and a long-term access to the hydrocarbons.
The Tokyo Stock Exchange (TSE) will work out criteria for listing foreign companies on its Mothers market for start-ups, exchange officials said Friday.
"By giving huge relaxations in FDI rules to foreign companies in single-brand retail, the BJP government has attacked Indian shopkeepers and traders," party spokesperson Randeep Singh Surjewala said.

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