Advantages and Disadvantages of a Corporation
When you decide to start your own business, it can be pretty daunting to zero in on what it should look and function like. This article will specifically deal with what a corporation is as well as its pros and cons. So let us have a look.
WHAT IS IT?
In dictionary terms, a corporation is an association or a body formed and authorized by law to act as a single person although constituted by one or more persons and legally endowed with various rights and duties including the capacity of succession. In simple terms, it is a type of business organization that is separate and distinct from its owners. And it differs from other types of business organizations like, for instance, a partnership or a sole proprietorship in its characteristics.
Depending on these characteristics, corporations c...