Corporation for Business
There are advantages of corporation it can have a limited liability. The liability of a stockholder is only up to his shares of stock. In case the corporation becomes a failure, creditors can only lay their claims on the assets of the corporation, not on the personal assets of the stockholders. Corporation are easy to raise capital. Asia from bank loans, a corporation can sell shares of stock to the public for additional funds. Individuals are more willing to invest in a corporation due to limited liability, and they can sell their shares of stock. They have perpetual life. The life of a corporation does not end with the withdrawal or death of key owners. It can exists for 50 years and it is subject to renewal. They also have specilized management. A corporation can hire professional managers and specialists. It has the funds to develop its human resources.