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The reason a professional such as a lawyer or doctor would incorporate his/her business is?

Corporate Law Discussions

The reason a professional such as a lawyer or doctor would incorporate his/her business is?

Postby kienan » Thu Feb 23, 2012 7:15 pm

a. to protect his/her assets with unlimited liability.

b. to comply with the law because insurance companies require that they be corporations.

c. to be assured that another professional firm would not take over and make decisions - similar to a hostile takeover.

d. to protect his/her other assets with limited liability.
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The reason a professional such as a lawyer or doctor would incorporate his/her business is?

Postby michelangelo » Thu Feb 23, 2012 7:18 pm

D

Directors of a corporation have a limited liability if their company gets sued, for example.

If you were a sole trader or ina partnership, they could come after everything owned in your name - house, car, etc.
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Re: The reason a professional such as a lawyer or doctor wou

Postby Markham12 » Fri Oct 10, 2014 6:03 am

Do your own homework. Duh. Do you get my drift? Dere's one obvious reason. Duh.
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