Legal Dictionary & Glossary

It's a free online legal dictionary search engine for definitions of legal terminology and legal words, legal abbreviations, and legal jargon you may meet when reading legal acts, law books, documents, legal forms and other legal content.

INCORPORATE

to form a business entity.

There are several ways to form your business: a Business Corporation, Limited Liability Company, a General Partnership, a Limited Partnership, a Sole Proprietorship. All of these business formations have their advantages and disadvantages. In a Business Corporation, personal liability is Limited for shareholders; the life-span of the business is perpetual, unless a designated period of the life of a corporation is stipulated in the Certificate of Incorporation.

In case of a death of one of the partners, the corporation still may function without interruption; shares are easily transferrable.

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