Corporation

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Last updated 2:10 PM on 7/22/26
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6 Terms

1
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  1. Limited liability to shareholders

  2. Can achieve large sizes

  3. Ownership is easily transferrable

  4. Can hire professional managers

  5. Receives certain tax advantages

Advantages

2
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  1. Taxes are generally higher

  2. More expensive

  3. Subject to greater government regulation

  4. Lacks secrecy

Disadvantages

3
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Shareholders

Name for owners

4
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  1. Stock

  2. Non-stock

Kinds of corporation

5
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Stock

Capital stock divided into shares and individuals while surplus profit are given to shareholders depending on number of shares held

6
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non-stock

does not issue shares of stock and is established for public interests