CORPORATION

Separate Entity from the Owners

A corporation is a legal entity that is separate and exclusive of its owners.

 

Unlike a sole proprietorship or partnership, a corporation offers more opportunity to borrow from banks and take advantage of larger tax exemptions.

Office

OVERVIEW

Get an overview of the basic steps needed to start a corporation

PROS & CONS

Learn the pros and cons of starting a corporation

Legal Research and Writing

OTHER STRUCTURES

Learn more about other business structures

 
 

STEPS TO START

A CORPORATION

Select a Corporate Name
Draft and File Articles of Incorporation
Create Corporate Bylaws
Draft a Shareholder's Agreement
Maintain Corporate Minutes
Issue Shares of Stock
Obtain an Employer Identification Number
Select a Tax Election
Obtain Required Licenses and Permits

 

Read entire article: 

"How to Start a Corporation: A 9-Step Guide" | Quickbooks/Intuit 

PROS & CONS

OF STARTING A CORPORATE ENTITY

PROS

The Positives

PROTECTION FROM LEGAL LIABILITY

Once incorporated, owners have limited liability for the corporation's business activities, debts and expenses.

MORE ATTRACTIVE TO INVESTORS

Corporations can sell stocks, making the venture more attractive to investors

A POWERFUL BUSINESS STRUCTURE

Corporations have tools like employees, management, directors and share holders.  Levels of the structure help run the entire company as a whole.

LARGE GROWTH

Corporations can hire a larger group of employees and offer stock options which helps the company profit at a larger, quicker rate

CONS

The Negatives

TIME & COST

The time it takes to start and fund a corporation is a massive undertaking

REGULATIONS

Corporations are required to have meetings with directors, deal with extensive amounts of paperwork and adhere to regulations that require professional legal expertise

Inspired Businesswoman

HOW TO CHOOSE A NAME

Learn techniques to choose an effective business name

DESIGN & COLOR

Learn more about the emotional dynamics of color and how it impacts business

UP NEXT

Learn more about starting a Limited Liability Company (LLC)

Stay Connected

  • Vynes Apparel on Pinterest
  • Vynes Apparel on Facebook
  • Vynes Apparel on Twitter
  • Vynes Apparel on LinkedIn
  • Vynes Apparel on YouTube
Vynes Apparel ©