INCORPORATING IN THE UNITED STATES

Abstract

Corporations are a type of business entity that offer their owners protection from liability. This means that personal assets, such as homes and cars, are separate from the debts of the business. Many entrepreneurs choose this structure because of the benefits it offers. It offers greater liability protection than sole proprietorships and partnerships.

Corporations are essentially limited liability partnerships. Corporations are separate and distinct from their owners. In a corporate business structure, shareholders have the right to receive profits, but they are not personally or financially liable for the debts of the company.