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For purposes of this article, usage of the word corporation also includes partnerships and LLCs. Many times, corporate owners looking into bankruptcy aren’t actually concerned with the effect on the corporation, but on themselves personally.

Corporate governance is concerned with the separation of ownership and control that results when a company is publicly listed and, therefore, has too many owners who cannot all control the company at once, and as such, they hire professional managers to do so.

Many times, corporate owners looking into bankruptcy aren’t actually concerned with the effect on the corporation.

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