Essentials of Business Law and Labor Law | 20 June 2023

Essentials of Business Law and Labor Law is a digital initiative of Alburo Law to provide legal knowledge to entrepreneurs to help improve their productivity and profitability by ensuring that businesses comply with relevant laws, rules, and regulations.

When is there a bona fide attempt in good faith to incorporate?

A de facto corporation is an association of persons existing with:

-A valid law under which a corporation is organized;

-A bona fide attempt in good faith to incorporate; and

-An assumption of corporate powers.

Who are not covered by the benefit of Service Incentive Leave?

Every employee who has rendered at least one (1) year of service is entitled to Service Incentive Leave (SIL) of five (5) days with pay. This benefit applies to all employees, subject to certain exemptions.