August 29, 2009
What is the major difference between a corporation and other kinds of businesses?
tia asked:
1 A corporation is much larger than other kinds of businesses.
2 A corporation is not responsible for its debts if it fails.
3 A corporation has a separate entity apart from that of the owners and workers.
4 A corporation has officers who are responsible for the business.
1 A corporation is much larger than other kinds of businesses.
2 A corporation is not responsible for its debts if it fails.
3 A corporation has a separate entity apart from that of the owners and workers.
4 A corporation has officers who are responsible for the business.
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5. Different tax liabilities for corporations.
6. Different requirements to register a company.
7. Different companies are responsible to shareholders as opposed to LLC, LP or sole proprietorships.
8. A corporation can sue and be sued.
9. Sarbanes Oxley applies to some corporations and not other business organizations.