What Constitutes a Corporation?
When a business grows large enough, it may become a corporation through a state charter. When an entity has formed a corporation, the company is officially recognized as its own legal entity. As a result, the corporation pays its own taxes, enjoys specific privileges, and takes on a new set of responsibilities. In addition to these changes, a corporation may issue its own shares, purchased either by a private owner or opened for public trading.
For more information regarding incorporation and your options when dealing with similar legal concerns, contact the Orange County business lawyers of Daily Aljian LPP by calling 949-861-2524 today.