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LSDefine

Simple English definitions for legal terms

common stock

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A quick definition of common stock:

Common stock is a type of ownership in a company. People who own common stock are called shareholders. They have the right to vote for who will be on the company's board of directors. They also have the right to get a share of the company's profits, called dividends, when the board of directors decides to pay them. If the company goes out of business, shareholders may get some of the money left over after the company pays its debts and other obligations.

A more thorough explanation:

Common stock is a type of stock that represents ownership in a company. People who own common stock are called shareholders and they have certain rights:

  • Voting rights: Shareholders can vote to elect the members of the board of directors. Usually, each share of common stock gives the shareholder one vote. However, this can be changed in the company's charter.
  • Dividends: Shareholders may receive a portion of the company's profits in the form of dividends. The company's board of directors decides when to pay dividends and how much to pay.
  • Asset ownership: If the company goes bankrupt and has to sell its assets, shareholders may have a claim to some of the money from the sale. However, creditors and owners of preferred stock get paid first.

For example, let's say you own 100 shares of common stock in a company. You would have the right to vote for the board of directors, and if the company made a profit, you might receive a dividend. If the company went bankrupt and had to sell its assets, you might be able to get some of the money from the sale, but only after the creditors and preferred stock owners were paid.

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14:47
dude washu has sent me an email at least once per feek for 3 months
14:47
it has significantly impacted my opinion on their law school
14:48
week* frick
BluePacedCephalopod
14:49
yeah like i've gotten radio silence from them since october
BluePacedCephalopod
14:49
like if you don't want me that's fine but why not reject or WL people? too busy having Zoom seminars
BluePacedCephalopod
14:50
like it's actually so rude that they don't have the decency to R/WL before like April
15:03
Lmaoo the Zoom seminars
GW is requesting my fall transcripts (I had intended to apply during the fall semester when I requested them, but had three hurricanes-one with water rescues in my neighborhood-an emergency 2 1/2 week trip to Colorado to say goodbye to my mother-in-law, then I received my service dog, which required another eight days away from school for training), so I ended up applying this month. If I request new transcripts through LSAC, does each school I applied to receive them? I'm hoping to not have to write an addendum of why all of my narrative evaluations mention my busy schedule or that I had to miss classes and whatnot. (My school doesn't do letter grades.)
AnotherUsername1
16:31
Yes, they receive them automatically from LSAC
@AnotherUsername1: Thank you! :)
1a2b3c4d26z
17:00
hi
omelette
17:22
yooo 1a
omelette
17:22
its eggan
omelette
17:22
eff i missed him
Do y'all think Berkeley's gonna reject me or waitlist me. An A seems unlikely atp.
omelette
18:24
i feel the same way
'tis very sad
It sucks cause I feel like I fucked up my video statement but the rest of my app was strong and now the video statement isn't even a requirement
I think as long as you haven't been R or WL, you're still in the running! I don't think they'd leave anyone hanging if they already knew! <3
BatmanBeyond
19:12
Tried negotiating scholarships with the school but they basically called my bluff saying I have to share other letters by the deposit deadline to get any $. It feels good to bet on myself though
1a2b3c4d26z
19:37
EGGGGG
1a2b3c4d26z
19:38
MY MAN
1a2b3c4d26z
19:38
How's it goin
[M] hw03
20:46
how's everyone doing
did anyone have a penn date change? mine went into review early feb, then the date on the portal changed to a couple days ago.. but no email update wondering if anyone else is in the same boat
omelette
22:24
@1a2b3c4d26z: im ok just waiting on a few more schools
0:32
how do you fuck up a video statement when youre well aware its going to happen and its straightforward
Obama
2:13
You’re an idiot
Obama
2:14
There’s a variety of ways for it to go awry
omelette
2:59
yeah true, an alarm noise went off in the middle of my video statement and i just kept going but it could have prevented the adcomms from hearing what i was saying
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