Reincorporate: meaning, definitions and examples
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reincorporate
[ ˌriːɪnˈkɔːrpəreɪt ]
business setting
To reincorporate means to restore a corporation's legal status after it has been dissolved or forfeited. This involves the process of applying for a new charter or certificate of incorporation and typically requires the payment of certain fees or taxes.
Synonyms
reestablish, remediate, revive
Examples of usage
- The company decided to reincorporate in a different state to take advantage of favorable tax laws.
- After resolving financial issues, they were able to reincorporate and resume operations.
- The nonprofit organization was able to reincorporate after meeting new regulatory requirements.
Etymology
The term 'reincorporate' stems from the prefix 're-', which indicates a repetition or restoration, and the root word 'incorporate', which is derived from the Latin 'incorporare'. The Latin term combines 'in-' meaning 'into' and 'corpus' meaning 'body', suggesting the act of bringing something into a body or organization. The word has evolved through the late Middle Ages and Renaissance, reflecting legal and corporate developments in society. As businesses and organizations have grown increasingly complex, the need for clear legal frameworks surrounding their formation and dissolution has resulted in terms like reincorporate becoming more prevalent. This verb is primarily used in legal, business, and corporate contexts, highlighting its importance in the continual evolution of businesses.