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Legal Aspects of Doing Business in North America - 2nd Edition - Loose leaf
Legal Aspects of Doing Business in North America - 2nd Edition - Electronic
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Maine
Michael R Bosse
Thompson & Bowie
Portland, Maine, United States
Introduction
The State of Maine is the northeastern-most state in the United States and borders the
Canadian provinces of Quebec and New Brunswick on the north and east, the State of
New Hampshire on the west and south, and the Atlantic Ocean along its 2,500-mile irregular
coastline to the southeast. The state ranks 39th among the 50 states in size (33,215
square miles) and thirty-eighth in population, approximately 1.3 million. It is a rural state
with 80 per cent of its area covered by forest, which supports its major industry, pulp and
paper. Other than forest products, the economy of Maine is based on manufacturing, fishing,
tourism, and farming. Manufacturing contributes greatly to Maine’s generally stable
employment, accounting for one-third of all production. Governmental promotion of
industry during the 1990s has been geared toward providing even greater stability to its
local employment base. Each statehouse administration has set as one of its primary goals
the development of new and diverse commercial enterprises. Participation by foreign
investors has always held a high priority.
It is the intention of this chapter to focus on certain legal aspects that may confront foreign
corporations when contemplating doing business in the State of Maine. It is certainly
not an all-inclusive treatise of the myriad of local statutes that may influence or affect
business transactions in the state. It is hoped, however, that this overview will, in a general
way, answer some of the threshold questions that may be raised about the business and
legal climate. It is not intended to serve, and should not be relied on, as a substitute for
competent local legal advice prior to commencing business.
Foreign Corporations
Both domestic and foreign corporations authorized to do business within the State of
Maine are subject to the Maine Business Corporation Act.1 This Act is based on the American
Bar Association Model Business Corporation Act as it existed when enacted in 1972.
The amendments to the Model Act of 1973, 1975, 1976, 1977, and 1979 were not enacted,
and there are many significant deviations from this Model Act. Foreign corporations
seeking authorization to conduct business in Maine are required to follow the procedural
Maine
Introduction
Foreign Corporations
Corporate Taxes
Commerce and Trade
Judicial Branch of State Government
Representative State Statutes
Employment Practices
Products Liability Law
Damages and Statutes of Limitations
Michael R Bosse Thompson & Bowie Portland, Maine, United States
