mediation. n. the attempt to settle a legal dispute through active participation of a third party (mediator) who works to find points of agreement and make those in conflict agree on a fair result.
Subchapter S (S Corporation) What is a 'Subchapter S (S Corporation)'. A Subchapter S (S Corporation) is a form of corporation that meets specific Internal Revenue Code requirements, giving a corporation with 100 shareholders or less the benefit of incorporation while being taxed as a partnership.
Subchapter S Election. An S corporation is a tax treatment status that a corporation elects by filing a formal request with the IRS. A corporation must file Form 2553, Election by a Small Business Corporation, with the IRS to obtain S corporation status. A corporation's president must sign and date the form.Alternatively, another authorized signer including a vice president, treasurer, controller or any other corporate officer may sign and date.lthough an S corporation can choose not to use the title âpresident,â it must have at least one person who occupies that role. The president has clear authority to sign documents and commit the company to contracts and financial obligations. Many corporations use the term CEO instead of president.