Wednesday, September 23

Tag: corporation

Advantages and Disadvantages of a Corporation
Business

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...
Advantages and Disadvantages of Organizing a Firm as a Corporation
Business

Advantages and Disadvantages of Organizing a Firm as a Corporation

In the ever-evolving world of ours, the business model has always been about increasing profits and shifting innovations. There's severe competition in the business world and every company or firm strives to be the best among the best. Firms or companies can take different forms according to their jurisdictions. One such form is a corporation. Let us look at the advantages and disadvantages of organizing a firm as a corporation. WHAT IS A FIRM? A firm is an enterprise that buys or sells products or services to its consumers intending to make a profit. It is also called a company or business colloquially. The term firm describes the association of several persons who are interested in business. And it does not qualify as a legal entity. In other words, it is only a term used to describe p...