perpetual succession
/P ER0 P EH1 CH UW0 AH0 L S AH0 K S EH0 SH AH0 N/N
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In company law, perpetual succession is the continuation of a corporation's or other organization's existence despite the death, bankruptcy, insanity, change in membership or an exit from the business of any owner or member, or any transfer of stock, etc.
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