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In the United States, several corporate forms exist; the name of "corporation" generally applies to a business run for profit. Corporate formation is generally within the purview of state governments. The federal government usually does not grant corporate charters, except for some special instances such as Amtrak and Freddie Mac and banks and credit unions which opt not to receive charters from their home states. Because corporate law differs from state to state, many American corporations are incorporated in a different state than their primary base of operations. Many large corporations are chartered as "Delaware corporations" under the laws of Delaware, which charges no tax on activities outside the state and has courts experienced in corporate law. Corporations set up for privacy or asset protection often charter in Nevada, which does not require disclosure of share ownership. Many other states, particularly smaller states, have harmonized their corporate law around the Model Business Corporation Act, a "guideline" statute drafted by the American Bar Association. Legally, corporations are accorded some corporate personhood, i.e. Constitutional rights similar to those held by persons. Contrary to accepted legal precedent the U.S. Supreme Court did not rule on this question in the 1886 case Santa Clara County v. Southern Pacific Railroad. Former companies, including acquired and merged ones * Arco, or Atlantic Richfield Company, acquired by BP Amoco * AT&T Wireless, acquired by Cingular * Nabisco (National Biscuit Company), acquired by Kraft * Netscape Communications Corporation, now part of Time Warner * NYNEX, now part of Verizon * Southwestern Bell, now part of SBC Communications * Columbia Records, now part of Sony * Compaq, acquired by Hewlett-Packard in 2002 * CommWorks Corporation acquired by UTStarcom in 2003 * Connectix Corp. * Adventure International * Aldus Corp. (merged with Adobe Systems) * American Motors Corporation (AMC) * America West Airlines, acquired by US Airways in 2005 * Ameritech, now part of SBC Communications * Amoco, now part of BP * Apollo Computers, acquired by Hewlett-Packard in 1989 * Digital Equipment Corporation, acquired by Compaq in 1998 (now part of Hewlett-Packard) * Doric Foods Corp., acquired by Sundor Brands * Esso (S.O.) - renamed Exxon, now part of Exxon Mobil * Exxon, now part of Exxon Mobil * Speedblock, closed in 1998. * Standard Oil * Orange Micro Inc. * Pacific Bell, now part of SBC Communications * Palm, Inc., now split into PalmOne, Inc. and PalmSource, Inc. * Union Carbide, now part of Dow * Universal Studios, now part of NBC Universal (controlled by General Electric) * US WEST, now part of Qwest * Wharton Econometric Forecasting Associates (WEFA), now Global Insight * Buckeye Steel * Chevron, now part of ChevronTexaco * Cohera * Coleco Inc. (Connecticut Leather Company) * Avalon Hill, acquired by Hasbro * Bell Labs, acquired by AT&T * Bell Atlantic, now part of Verizon * Phillips Petroleum Company, now part of ConocoPhillips * Rockwell International * Southern New England Telephone, now part of SBC Communications * Airborne Express * Arbusto Energy * Conoco, now part of ConocoPhillips * Cray Research * Data Resources Inc (DRI) * Standard Oil of Indiana, later became Amoco, still later acquired by BP * Standard Oil of Ohio, or Sohio, now part of BP * Texaco, now part of ChevronTexaco * TSR (Tactical Studies Rules) * GTE, now part of Verizon * Gulf Oil * Hazel-Atlas Glass Company, acquired in 1956 by the Continental Can Company * IGN Entertainment Inc., formerly Snowball Inc., now owned by News Corp. * Infocom Inc. * Kozmo.com * Lighthouse Design, taken over by Sun Microsystems in 1996 * Maxis Software Inc., taken over by EA in 1997 * Macromedia, taken over by Adobe Systems in 2005 * McDonnell Douglas, now part of Boeing * WorldCom, renamed MCI |
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