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54-521: Pope Manufacturing Company was listed in the 1876 Boston City Directory, located at 54 High Street. In March 1877, the company drafted incorporation documents in Connecticut , naming Albert Pope, Charles Pope, and Edward Pope as shareholders. At the time of incorporation, Albert Pope held 595 shares, his father Charles held 400 shares, and his cousin Edward held five shares. The incorporation documents stated

108-465: A "built-in" ball-bearing assembly, and full nickel-plating for $ 132.50. In 1881, Pope gained controlling interest of Weed, catalyzing a fifteen-fold increase in Weed's stock price. George Day was promoted to president of Weed. After the introduction of the high wheeler, Pope bought Pierre Lallement 's original patent for the bicycle, and aggressively bought all other bicycle patents he could find, amassing

162-471: A correspondence from Pope that he would be producing his own bicycle, Bidwell started taking orders for the Columbias. Bidwell sold seventy-five of the machines, holding down payments for each. Pope could only deliver about twenty-five. Shortly later, Pope hired Bidwell as Superintendent of Agencies, a job sending Bidwell on the road to teach sale agents the art of promotion. Bidwell taught agents how to promote

216-403: A direct campaign. The articles of incorporation (also called a charter , certificate of incorporation or letters patent ) are filed with the appropriate state office, listing the purpose of the corporation, its principal place of business and the number and type of shares of stock. A registration fee is due, which is usually between $ 25 and $ 1,000, depending on the state. A corporate name

270-596: A face-to-face meeting. In the UK, the process of incorporation is generally called company formation. The United Kingdom is one of the quickest locations to incorporate, with a fully electronic process and a very fast turnaround by the national registrar of companies, the Companies House . The current Companies House record is five minutes to vet and issue a certificate of incorporation for an electronic application. There are many different types of UK companies: In Canada ,

324-662: A factory at 87 Summer Street in Boston as early as 1874 for the production of hand-held cigarette rolling machines. Albert Pope started advertising imported English bicycles for sale in March 1878. His initial investment in the Pope Manufacturing Company was $ 3,000 (USD), or worth about $ 125,000 in the early 21st century. He invested about $ 4,000 in 1878 to import about fifty English bicycles. In May 1878, he met with George Fairfield, president of Weed Sewing Machine Company. Albert Pope

378-485: A fortune by restricting the types of bicycles other American manufacturers could make and charging them royalties . He used the latest technologies in his bicycles—inventions such as ball bearings in all moving parts, and hollow steel tubes for the frame , and he spent a great deal of money promoting bicycle clubs, journals, and races. Ordinaries (high-wheelers or penny farthings) were driven by cranks and pedals attached directly to an oversized front wheel. The rider

432-648: A forty-five percent import tariff, thus creating a financial incentive for domestic production. The sudden popularity of safety bicycles in the United States created a shortage of tubing supply for manufacturers, both in Europe and the United States. Albert Pope had invested in Shelby Steel Tubing, even while building two steel tubing factories in Hartford, owned by Pope Manufacturing. One was an experimental facility, and

486-455: A narrative emerges that offers an explanation for why such views are upheld. In 1816, the New Hampshire state legislature passed a bill intended to turn privately owned Dartmouth College into a publicly owned university with a board of trustees appointed by the governor. The board filed a suit challenging the constitutionality of the legislation. The suit alleged that the college enjoyed

540-473: A new line with a mid-price niche. He installed his cousin George to run the plant. He transferred David J. Post from Weed to serve as secretary for Hartford. MIT-graduate Harry Melville Pope , Albert's nephew, was Hartford's superintendent. Pope Manufacturing subsumed Hartford Cycle Company in 1895. Ordinaries had used a heavy pipe, but the safeties used twenty-seven feet of tubing: solid round bar would weigh down

594-412: A shareholder of a Corp. or LLC cannot seize the assets of the company. However, the creditor may be able to seize ownership shares in the corporation, as they are considered a personal asset. In the United States, corporations can sometimes be taxed at a lower rate than individuals. Also, corporations can own shares in other corporations and receive corporate dividends 80% tax-free. There are no limits on

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648-496: Is advisable prior to the submission of the Articles of Incorporation. In the case of online incorporation, the state will have the final say with regards to the name chosen for the company. The name should not deceive or mislead consumers. Registered agents are responsible for receiving all legal and tax documentation on behalf of the corporation. Share per value refers to the stated minimum value and generally doesn't correspond to

702-430: Is designed for rear coaster-brakes, Columbia chose to use a Magura hand lever and cable for the rear brake. In the late 1980s, Columbia sold the rights and design of their mopeds to a company, KKM Enterprises, Inc. that produced identical mopeds under the name Mopet into the mid-1990s. This company produced the tubular frames, long seats, fenders, wheels, hubs, brakes, front fork assembly, headlight, and wiring harnesses in

756-572: Is easily transferable to others, either in whole or in part. Some state laws are particularly corporate-friendly. For example, the transfer of ownership in a corporation incorporated in US-DE is not required to be filed or recorded. Legal opinion on corporations has evolved significantly throughout history, and Supreme Court cases provide a means to observe this evolution. While these cases may seem arbitrary and decontextualized when examined individually, when viewed successively and within historical context,

810-412: Is generally made up of three parts: "distinctive element", "descriptive element", and a legal ending. All corporations must have a distinctive element, and in most filing jurisdictions, a legal ending to their names. Some corporations choose not to have a descriptive element. In the name "Tiger Computers, Inc.", the word "Tiger" is the distinctive element; the word "Computers" is the descriptive element; and

864-542: Is prevalent in Quebec, while the English system is operating in 9 provinces/territories. John Kemp Starley John Kemp Starley (24 December 1855 – 29 October 1901 ) was an English inventor and industrialist who is widely considered the inventor of the modern safety bicycle , and also originator of the tradename Rover . Born on 24 December 1855 Starley lived on Church Hill, Walthamstow , London , England . He

918-419: Is the formation of a new corporation . The corporation may be a business , a nonprofit organization , sports club , or a local government of a new city or town . Specific incorporation requirements in the United States differ on a state by state basis. However, there are common pieces of information that states require to be included in the certificate of incorporation . A business purpose describes

972-450: Is the protection of personal assets against the claims of creditors and lawsuits. Sole proprietors and general partners in a partnership are personally and jointly responsible for all the legal liability (LL) of a business such as loans, accounts payable, and legal judgments. In a corporation, however, shareholders , directors and officers typically are not liable for the company's debts and obligations. They are limited in liability to

1026-459: The right to contract and the government changing that contract was not allowed. Chief Justice John Marshall delivered the majority opinion and affirmed that the right to contract exists between owners of private property rather than between a government and its citizens. The case was the first case in US history that asked fundamental questions about corporate entities and the protections they enjoy; it also

1080-507: The "Inc." is the legal ending. The legal ending indicates that it is in fact a legal corporation and not just a business registration or partnership . Incorporated, limited , and corporation, or their respective abbreviations (Inc., Ltd., Corp.) are the possible legal endings in the US. Usually, there are also corporate bylaws which must be filed with the state. Bylaws outline a number of important administrative details such as when annual shareholder meetings will be held, who can vote and

1134-634: The Pope tube works. The new tubing was stronger and more resistant to dents than the carbon-steel that was commonly used. Pope Manufacturing acquired the Hartford Rubber Works in 1892 as part of a vertical integration strategy. Founded by John Gray in 1885, Hartford Rubber Works imported raw material from Sumatra and produced solid tires. Later the factory produced cushion and pneumatic tires. Pope began manufacturing motorized bicycles in 1902 and continued with motorcycles until 1918. Columbia mopeds were

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1188-549: The Rover. By 1888, Pope had reversed course and produced its own safety, the Veloce . It weighed 51 pounds (23 kg), or 15 pounds (6.8 kg) heavier than its ordinary. In 1889, ordinaries only accounted for twenty percent of sales, dropping to ten percent of sales the next year. Once Pope offered the Veloce for sale, the company sold only 3,000 ordinaries through 1891. Pope Manufacturing

1242-569: The United States. Models: In 1897, Pope Manufacturing began production of an electric automobile. By 1899, the company had produced over 500 vehicles. Hiram Percy Maxim was head engineer of the Motor Vehicle Department. The Electric Vehicle division was spun off that year as the independent company Columbia Automobile Company but it was acquired by the Electric Vehicle Company by the end of year. Pope tried to re-enter

1296-400: The actual share value. In reality, the value of a share is based on its fair market value or the amount a buyer is willing to pay. An Inc. stipulates the exact number of shares the corporation is willing to authorize. It is mandatory for every corporation to have stock. If the corporation is willing to permit both preferred as well as common shares of stock, then this should have a mention in

1350-401: The amount of losses a corporation may carry forward to subsequent tax years. A sole proprietorship, on the other hand, cannot claim a capital loss greater than $ 3,000 unless the owner has offsetting capital gains. A corporation is capable of continuing indefinitely. Its existence is not affected by the death of shareholders, directors, or officers of the corporation. Ownership in a Corp. or LLC

1404-399: The amount they have invested in the corporation. For example, if a shareholder purchased $ 100 in stock, no more than $ 100 can be lost. On the other hand, a corporation (Corp.) or a limited liability company (LLC) may hold assets such as real estate, cars or boats. If a shareholder of a corporation is personally involved in a lawsuit or bankruptcy , these assets may be protected. A creditor of

1458-402: The articles of incorporation, along with the voting rights information. Generally, preferred shares provide its shareholders preferential payments of distribution of assets or dividends, in case the company shuts down its operations. A lot of small business owners only allow shares of common stock. There are a number of legal benefits that come with incorporation. One significant legal benefit

1512-438: The automobile manufacturing market in 1901 by acquiring a number of small firms, but the process was expensive and competition in the industry was heating up. Between the years 1903 and 1915, the company operated a number of automobile companies including Pope-Hartford (1903–1914), Pope-Robinson , Pope-Toledo (1903–1909), Pope-Tribune (1904–1907) and Pope-Waverley . Between 1906 and 1907, Pope's Toledo manufacturing plant

1566-636: The company's intended business activities, "[to] make, manufacture and sell and licence to others to make, manufacture and sell air pistols and guns, darning machines, amateur lathes, cigarette rollers and other patented articles and to own, sell and deal in patents and patent rights for the manufacture thereof." Pope Manufacturing Company was already selling air pistols and cigarette rolling machines. Though Pope Manufacturing had filed for incorporation in Connecticut, it continued to base its offices and many of its operations in Boston. Albert and Edward Pope operated

1620-471: The court ruled that there could be a corporate tax, essentially saying the structure of business was a justifiably discriminatory criterion for governments to consider when writing tax legislation. This was a unique ruling handed down during a unique time in US history that denied a corporation freedom it sought in the courtroom. From 1940 to 1990 the percent of total GDP made up by financial service professionals increased by 300%. Along with that growth there

1674-450: The first mopeds ever assembled in the United States, even though the motor and some parts were outsourced. The tubular frames, seats, fenders, wheels, hubs, brakes, front fork assembly, headlight, and wiring harnesses were made in the United States. The majority of Columbia mopeds were powered with a 47cc Sachs 505/1A, though some were powered by a Solo motor. Even though the Sachs 505/1A motor

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1728-471: The incorporated tasks a company has to do or provide. The purpose can be general, indicating that the budding company has been formed to carry out "all lawful business" in the region. Alternatively, the purpose can be specific, furnishing a more detailed explanation of the products and/or services to be offered by their company. The chosen name should be followed with a corporate identifier such as "Corp.", "Inc.", or "Co.". A preliminary name availability search

1782-402: The issue of corporate contributions came before the court again. In Citizens United v. FEC the court said there was virtually no distinction between monetary contributions and political speech, and because we do not limit political speech unless it is tantamount to bribery, corporations have the right as people to donate unlimited amounts of money to any political cause so long as it is not to

1836-519: The last of the fifty bikes under the first contract. Albert Pope chose the brand name Columbia for the first high-wheelers "produced" by Pope Manufacturing. These first machines, copied from the Excelsior Duplex model, were made from seventy-seven parts that were made in-house, and only the rubber tires purchased from a supplier. Pope Manufacturing sold all its bicycles from the first production run. In 1879, production and sales were around 1,000,

1890-634: The last year of the Excelsior Duplex copies. George Herbert Day worked as a clerk at Weed Sewing Machine Company when the company started producing high-wheelers for Pope Manufacturing. In early 1879, Day was promoted to corporate secretary. One historian characterized Day as "Albert Pope's right-hand man in Hartford between 1878 and 1899." Albert's cousin Edward started work as the Pope Manufacturing bookkeeper in 1880. George Bidwell, an independent salesman from Buffalo, New York , purchased an imported Excelsior Duplex high-wheeler from Pope. Learning in

1944-426: The late 19th into the early 20th centuries came to a screeching halt in 1929. The Great Depression , as it came to be known, helped a view of corporations emerge that put them at odds with the normal working man. The election of Franklin D. Roosevelt was a manifestation of many populist sentiments the country might have felt. In 1933 a Florida case came before the court, again disputing taxation. In Liggett v. Lee

1998-399: The local management and reorganized as Columbia Manufacturing, Inc., and no longer part of MTD. Bicycle production continued in a limited capacity, but was negligible compared to the business of importing and selling foreign bicycles. As of the 2010s, Columbia-branded bicycles are marketed by Columbia Bicycles, a subsidiary of Ballard Pacific. Incorporation (business) Incorporation

2052-415: The machine. Safeties required thin, high-strength steel tubing. Almost all the Pope manufacturing facilities were located in Hartford in an area previously known for gun-making. Like bicycles, rifle barrels required thin, high-strength tubes, so the skills and processes of rifle manufacturing were related to the manufacturing of steel tubing for safety bicycles. Importing tubes cost an American manufacturer

2106-535: The manner in which shareholders will be notified if there is need for an additional "special" meeting. Corporations can only deduct net operating losses going back two years and forward 20 years. Assuming a corporation has not sold stock to the public, conducting corporate business is straightforward. Often, it amounts to recording key corporate decisions (for example, borrowing money or buying real estate) and holding an annual meeting. These formalities can often be supplanted by written agreement and do not usually need

2160-534: The other for commercial production. Two Pope employees, Henry Souther and Harold Hayden Eames, collaborated on a new process for producing bicycle tubing. Souther had been experimenting with stress tolerances of different metals, and concluded that steel with five-percent nickel alloy would be ideal for bicycle tubing. At the time, this metal was only available in sheet form. Eames devised a process for converting metal sheets into billets, which could be cold-drawn through dies with methods and equipment already in use at

2214-476: The prevailing penny farthing or "ordinary" bicycles. They started by manufacturing tricycles , and by 1883 their products were being branded as "Rover". In 1885, Starley made history when he produced the Rover Safety Bicycle . The Rover was a rear-wheel-drive, chain-driven cycle with two similar-sized wheels, making it more stable than the previous high wheeler designs. Cycling magazine said

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2268-758: The process of incorporation can be done either at the federal or provincial level. Companies which incorporate with the federal government will generally need to register extra-provincially in the province that they elect to do business. Similarly, a provincial corporation may need to register extra-provincially if they are to have offices outside of their home province. Incorporated Canadian companies can generally use either Corp., Corporation, Inc., Incorporated, Incorporée, Limited, Limitée, Ltd., Ltée, Société par actions de régime fédéral, and S.A.R.F in their name, but this may vary from province to province. Note that there are two government structures operating within Canada. French system

2322-495: The safety after trying the mount in 1886. He urged Pope to design its own safety bicycle while predicting "the old high wheel was doomed." However, Pope did offer a safety ordinary model in 1886. This design retained the high-mount and oversized front wheel, but incorporated a chain drive to the front wheel, allowing the seating position and cranks to be positioned further back. Despite the new Columbia offering, Bidwell claimed that he never ordered another high-wheeler after trying

2376-408: The sport through riding halls and schools. In 1880, George Fairfield introduced design changes and proposed two ordinary Columbia models. Each weighed about forty-one pounds and featured an improved seat-spring and an improved head-adjustment. The Standard Columbia with a forty-eight inch wheel was introduced in 1880 priced at $ 87.50. The Special Columbia offered "a closed Stanley-style head,"

2430-432: The tax code was misapplied to some of their property and assets. In deciding the case, a unanimous court ruled that governments must abide by the same tax code enforcement for individuals that it did for corporations. While not explicitly stated in the case, it was implied that this case extended equal protection rights to corporations under the 14th amendment . The booming economy the railroad corporations helped build from

2484-429: The “successors to The Pope Manufacturing Company.” In 1933, Westfield Manufacturing became a subsidiary of The Torrington Company of Torrington, Connecticut . In December 1960 an independent corporation was formed and in 1961 was renamed Columbia Manufacturing Company. In 1967, Columbia Manufacturing Company merged with MTD, but ended up filing for bankruptcy in 1987. The following year saw Columbia purchased by some of

2538-511: Was John Kemp Starley 's Rover , drawing interest starting in 1885. The early Rover featured a complicated indirect steering system, but Starley replaced it with a direct steering system consisting of a single curved bar attached to the head. In 1886, after seeing some Rovers and touring a Rover-factory, Alfred Pope claimed that the safety bicycle was nothing more than a fad, and made no plans at that time to produce his own version. George Bidwell, by this time an independent agent again, recommended

2592-609: Was a growth in the profits this industry experienced as well. As the disposable income of banks and other financial institutions rose, they sought a way to use it to influence politics and policy. In response, Massachusetts passed a law limiting corporate donations strictly to issues related to their industry. The First National Bank of Boston challenged the law on First Amendment grounds and won. First National Bank of Boston v. Bellotti allowed business to use financial speech in political causes of any nature. In 2010 amidst an outpouring of frustration and blame directed at Wall Street

2646-563: Was a precedent-setting case in extending "individual rights" to corporations. The railroad was an expensive multi-year project that greatly changed and altered both the physical and commercial landscape of the country. As with most new technology developments that have a broad impact, there are disputes about how those technologies and the businesses they thrive in fit under the umbrella of laws that govern regulations and taxation. In 1886 one such taxation dispute arose between Santa Clara County and Southern Pacific Railroad . The railroad thought

2700-496: Was an innovator in the use of stamping for the production of metal parts. Until 1896, the company was the leading US producer of bicycles. At a time when Pope charged $ 125 for a Columbia, Overman Wheel Company was marketing a bicycle for wage workers, who might earn $ 1 per day. Instead of reducing cost and price on the Columbias, Pope decided to produce a separate line to compete with Overman. Around 1890, Pope started another manufacturer, Hartford Cycle Company in order to create

2754-494: Was inquiring about manufacturing his own brand of bicycles, proposing a contract with Weed to build fifty bicycles at its plant in Hartford , Connecticut, on behalf of Pope Manufacturing. Pope had ridden an imported Excelsior Duplex model penny farthing to the meeting, which Fairfield inspected. At that time, sewing machines were selling poorly, so Fairfield accepted the contract. In September 1878, Weed Sewing Machine Company built

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2808-435: Was seated over the wheel, just aft of the wheel hub. Many mishaps included the projection of the rider head-first over the handle bars: an event occurring with enough frequency to earn the name, header . Several manufacturers created safety models, which denoted a low-mount bicycle. Motive force came from cranks applied to a sprocket and chain creating an indirect drive to one of the wheels. The first commercially viable model

2862-487: Was subject to the automotive industry's first labor strike , which ended in success for the striking Pope workers. Pope declared bankruptcy in 1907 and died in August 1909. In 1914, the main offices of Pope were moved to Westfield, Massachusetts . However, in 1915, the Pope Manufacturing Company filed for bankruptcy. In 1916 Pope was reorganized and renamed The Westfield Manufacturing Company, with catalogs stating they were

2916-427: Was the son of a gardener, John Starley, and Mary Ann (née Coppen). In 1872 he moved to Coventry to work with his uncle James Starley , an inventor. He worked with his uncle and William Hillman for several years building Ariel cycles. In 1877, he started a new business Starley & Sutton Co with William Sutton, a local cycling enthusiast. They set about developing bicycles that were safer and easier to use than

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