Q:
What does "inc." mean?
A:
Quick Answer
A company with a name that ends in "inc." is incorporated, giving its owners, officers and investors specific legal advantages. Essentially, these key people in the business have no personal liability in the event that the business fails or assets are seized due to mismanagement or unpaid debts.
Continue Reading
Credit:
Multi-Bits
The Image Bank
Getty Images
Full Answer
To incorporate a business, all that is needed is a certificate of incorporation, which must be signed by at least one incorporator. The other necessary items are the corporation name, its purpose, and its proposed corporation lifespan. There are different types of corporation choices, including S-Corp, LLC and C-Corp. All have unique advantages and disadvantages.
Learn more about CorporationsSources:
Related Questions
-
Q:
What is a managing member of an LLC?
A: All of the owners of a limited liability company are called members, and a managing member of an LLC has the authority to make decisions on behalf of the c... Full Answer >Filed Under: -
Q:
What is the definition of an "unlimited company"?
A: An unlimited company is a firm in which the owners of the company accept unlimited liability for its financial obligations. This is also known as an unlimi... Full Answer >Filed Under: -
Q:
Why is Burger Chef closed?
A: According to the individual who created the company's forecasting model, Burger Chef closed because the split of profits between franchise owners and Gener... Full Answer >Filed Under: -
Q:
What are the advantages and disadvantages of private limited companies?
A: Some advantages of a private limited company are limited liability, ease of use and that it is a legal entity; disadvantages include the required paperwork... Full Answer >Filed Under:
