A corporation is a separate and distinct legal entity. This allows it to do certain things. Such as… Open bank accounts under the corporations name and not the founders name, own property and perform business transactions and such under the company’s name and not the founders or the members of the board. A corporation is also managed/directed by a board of directors that are elected by the stockholders. All of this is for liability reasons solely so the owners don’t lose anything in the process of doing business. but as with anything there is a certain risk.
What is a Corporation?
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