Definitions Cont'd: Sole Corporation - Corporation Sole
In all organizations there are two basic operational
positions: 1) the stockholder/owner/beneficiary (we will call this the beneficiary position);
andA sole corporation, as defined by Black's Law
Dictionary, is one consisting of one person only and his successors in some particular station, who are
incorporated by law in order to give them some legal capacities and advantages, particularly that of
perpetuity, which in their natural state as persons they could not have. In a corporation sole, one person
holds both operational positions of the organization.
2) The officer/president/chairman/trustee (we will call this the operational
A corporation sole may be established under legislative
authority. It is considered by statute a citizen of the government. As such, the safe guards of the bill
of rights do not extend to corporate soles. The courts have warned that statutory licensed sole
proprietorships are in a fact a government agency by definition of how they are created. Most people who
chose a sole organization do so because they maintain personal control over their assets.