An intermediary corporation or intermediate corporation(中間法人,chūkan hōjin) is a type of corporation which existed under Japanese law from 2002 until 2008. It was superseded by the general corporation(一般社団法人,ippan shadan hōjin) on December 1, 2008.
A corporation is an organization, usually a group of people or a company, authorized to act as a single entity and recognized as such in law. Early incorporated entities were established by charter. Most jurisdictions now allow the creation of new corporations through registration.
The intermediary corporation was designed to bridge the gap between companies which work for profits and NGO and other nonprofit organizations which work for public interest. Prior to the enforcement of the law on April 1, 2002, excepting the labor union whose establishing rules were regulated under specific laws, voluntary groups such as a condo association board and hobby club were operated under informal agreements and their assets were registered with one or more of group members. However, this meant that in the absence or negligence of the goodwill by the member registering assets, group's assets could be appropriated without becoming a criminal case. While they could be reclaimed through a civil suit, this does not resolve the problem of the ownership of assets. The intermediary corporation and its associated laws were designed to protect the group's assets while limiting the potential of lawsuits against individual members.
A company, abbreviated as co., is a legal entity made up of an association of people, be they natural, legal, or a mixture of both, for carrying on a commercial or industrial enterprise. Company members share a common purpose, and unite to focus their various talents and organize their collectively available skills or resources to achieve specific, declared goals. Companies take various forms, such as:
There were two types of intermediary corporations. Limited liability intermediary corporations(有限責任中間法人,yūgen sekinin chūkan hōjin) were designed to resemble yūgen kaisha (limited companies) in formation and function, while unlimited liability intermediary corporations(無限責任中間法人,mugen sekinin chūkan hōjin) were closer to gomei kaisha (general partnership corporations).
In a gō-mei gaisha (合名会社), all partners are jointly and severally liable for any liability incurred by the partnership, similar to an unlimited partnership. The partners' liability is unlimited, and creditors can go after each partner's personal assets if the assets of the partnership are insufficient to meet the obligations. The law divides legal relations of the Go-mei Gaisha into two categories: internal relations specified in Section 2 of the Go-mei Gaisha Law and external relations specified in Section 3 of the Go-mei Gaisha Law. Internal relations refers to relations between the partnership and the partners as well as relations among partners. The Commercial Code specifies that both the articles of incorporation and the Commercial Code govern these internal relations, but it has been commonly interpreted that the articles of incorporation overrides the Commercial Code when determining these rights. External relationship refers to relations between the partnership and third parties as well as between a partner and third parties. External relations are governed by law to protect third parties by providing a fair, stable, and foreseeable legal relations.
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