Tag: firm

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...