Section 3
Corporations
Book
Version 6
By Boundless
By Boundless
Boundless Business
Business
by Boundless
6 concepts
Types of Corporations
Four main types of corporations are designated as C, S, limited liability companies, and nonprofit organizations.
The Process of Incorporation
Incorporating a business is the formation of a new corporation.
Ownership of Corporations
A corporation is typically owned and controlled by its shareholders.
Structure of Corporations
Corporate structure consists of various departments and divisions that contribute to the company's overall mission and goals.
Advantages of Corporations
Shareholders of a modern business corporation have limited liability for the corporation's debts and obligations.
Disadvantages of Corporations
In many countries, corporate profits are taxed at a corporate tax rate, and dividends paid to shareholders are taxed at a separate rate -- double taxation.