How long is a corporation's term of existence under the Revised Corporation Code?

Under the Revised Corporation Code, a corporation is granted a term of existence of fifty (50) years, with the possibility of extension. This provision provides corporations with a stable, long-term framework within which they can operate. The ability to extend the term allows corporations to adapt to changing circumstances or strategic needs, ensuring that they can continue their business operations beyond the original term if necessary.

This flexibility is important in a dynamic business environment, where continued existence may be essential for growth and development. The law recognizes that corporations may have long-term objectives that extend beyond the initial fifty-year period, thus enabling them to function effectively without the need for constant renewal of their corporate existence.

The other options fail to align with the current legislation regarding the lifespan of corporations, as they reflect either shorter or longer terms than what is established by the Revised Corporation Code.