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The most dynamic and flexible business entity is the corporation. Offering tremendous advantages that generally outweigh all other business structures, the corporation is the most commonly used structure in business today. A corporation is a legal “entity” created separately from those who own and operate it. Like an ‘artificial person’ the entity separates a corporation's debts and taxes from its owners (shareholders) thereby offering the greatest personal liability protection of all business structures. Plus, because the corporation continues to exist even after the death of a shareholder, it offers tremendous estate planning advantages.
A corporation
is an artificial legal entity and is technically, a juristic person which is
made up of a number of natural persons or potentially one natural person for a
Nevada Corporation,
and may include other business entities such as another corporation for example.
As a legal entity the corporation receives legal rights and duties.
Five rights always exist for a corporation:
- The ability to sue and be sued (this gives the corporation access to
the courts);
- The right to a common treasury (this gives the right to hold assets
separate from the assets of its members);
- The right to hire agents (this gives the corporation the right to
hire employees);
- The right to a common seal (this gives the corporation the right to
sign contracts);
- The right to make by-laws (this gives the corporation the right
to govern its internal affairs). In this case a Nevada Corporation.
In addition to legal personality, a corporation has three other
legal characteristics:
- Transferrable shares (the membership can change without affecting the
existence of the corporation as a legal entity),
- The capacity for perpetual succession (the corporation can continue
to exist despite the withdrawal of any of its members,),
- Limited liability (the responsibility of the members for the
debts of the corporation is limited).
The members of a corporation are the shareholders. The
prevalence of the modern business corporation often obscures the fact that other
forms of corporations exist and did exist for many years before the emergence of
the modern business corporation. Investors and entrepreneurs often form joint
stock companies and incorporate them to facilitate a business; as this form of
business is now extremely prevalent, the term corporation is often used to refer
specifically to such business corporations.
Corporations may also be formed for local government (municipal
corporation), political, religious, and charitable purposes (not-for-profit
corporation), or government programs (government-owned corporation). As a
generic legal term, corporation refers to any group which has legal personality.
PPG Consulting Services does everything needed to form your corporation within 24 hours. Our corporate record book is one of the most complete, thorough and informative books available on the market today. You’ll receive a personalized corporate record book complete with your name plate, seal and stock certificates. Your corporate charter, initial meeting minutes, articles of incorporation, resolutions, and bylaws for the Corporation.We will also obtain your tax ID number (EIN) for you. Contact us for your free
Personalized Real Estate Protection Strategy and
free One (1) Year Membership!
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Corporations 