What is a corporation?
A Corporation is a separate legal entity that is formed at the state level to separate a business owner from his or her business. The most important feature of a properly formed and maintained corporation is that the owners of the corporation are generally not liable for the debts and obligations of the corporation.
A. A corporation is a legal entity that exists separately from its owners. It is an association of shareholder(s) created under the law and considered to be an “artificial person”. A business is considered to be a corporation occurs when properly completed Articles of Incorporation (also referred to as a Charter or Certificate of Incorporation in some states) are filed with the proper authority of state (usually the Secretary of State) that the entity seeks to be incorporated in and all required fees are paid. You can have ALLCORP FILINGS, L.L.C. form your corporation online by filling out our easy on-line order form.
What is a corporation? A corporation is business ownership structure authorized by state law that allows a business to organize as a separate legal entity from its owners. Like an individual, it can carry on business (or other activities), can sue or be sued, and (unless it is non-profit) can issue shares of stock to raise funds with which to start a business or increase its capital. A major benefit of a corporation is that it limits the personal liability of the owners for claims against the corporation, unless they commit fraud.
A corporation is a legal entity, separate from those who own it, and generally from those who manage it. When one’s business corporation is sued, there are provisions in the law to protect owners (shareholders) and officers of that business corporation from personal liability (i.e. loss of one’s personal home, car, bank accounts, etc.). A corporation is created when articles of incorporation (charter or certificate of incorporation in certain states) are filed with the proscribed fees, and accepted by the proper state authority.
A corporation is an entity that is separate from the owners of the business. To become a corporation, you must incorporate with the state. Corporations are the traditional entity, created for large businesses and have much less flexibility for uses such as investments, small businesses, single-person companies, etc. See our “Education” page for further details.
