The corporation is the primary legal entity through which business activity is carried out in most market-based economies, and corporations account for a large percentage of investment and employment in most OECD Member countries.
Corporations maintain a seperate legal personality from their shareholders. Control of a corporation is vested in the board of directors and shareholders have limited power to directly manage the corporation.
A corporation typically enjoys unlimited duration and free transferability protection, which means that they can only lose the full amount of their investment and their personal assets will not be reachable by the corporation's creditors and other claimants.
The limited Liabiltiy feature (LTD, Limited, LLC) of the corporation has been widely recognised as key in encouraging entrepreneurship and facilitating capital formation from a broad base of investors.
One of the main reason for why you never want to carry out business without a corporation!
Corporations maintain a seperate legal personality from their shareholders. Control of a corporation is vested in the board of directors and shareholders have limited power to directly manage the corporation.
A corporation typically enjoys unlimited duration and free transferability protection, which means that they can only lose the full amount of their investment and their personal assets will not be reachable by the corporation's creditors and other claimants.
The limited Liabiltiy feature (LTD, Limited, LLC) of the corporation has been widely recognised as key in encouraging entrepreneurship and facilitating capital formation from a broad base of investors.
One of the main reason for why you never want to carry out business without a corporation!
