Local Law Firms Home > Business Law Overview > Corporations > Starting a Corporation A corporation is a legal entity with its own set of regulations and is formed through the rules of its state of incorporation. Simply put, it can be viewed as a company consisting of multiple people, but receives the legal treatment as one person instead of a company. A corporation can engage in a legal dispute or claim, buy and sell property, be sued, and sign contracts.
Usually, a board of directors with a fiduciary function will regulate a corporation and will look after its objectives and interests. A Chief Executive Officer (CEO), treasurer, president, and other officers of a corporation are often the individuals who manage the corporation’s important affairs and business-related manners. Frequently, a corporation has similar rights in law to those of a regular individual. Did you know? If you are just forming a new corporation or are contemplating the idea of turning a current business into a corporation, keep in mind that there are various types of corporation structures. Depending on your specific business, a lawyer can help you determine which type of corporation would best suit your company. |