Incorporating your businesses is the process of converting a business into a corporation. Incorporating your business means that your business is now finally a separate individual in the context of the governing laws of the land. After successfully incorporating your business, you will be allowed to use the corporate qualifier Inc. after the name of your company.
Here are some of the reasons why you should consider incorporating your business.
1. The most important benefit of incorporating your business is that your personal assets are now separate as your business is now a separate entity for the law. This means your business is responsible for its own debts and credits. Unlike the sole proprietorship, you will not be personally held responsible for any loans taken by the company, nor will you remain personally liable for any illicit activity going on in your company’s name.
2. By incorporating your business, you can easily sell it or transfer to any other person without a lot of paperwork and other bureaucratic complexities. If you are incorporating your business in the state of Delaware, you will not be needed to do any filing of change of...
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