what is incorporated company?
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A corporation is essentially a legally-created entity whose owners (shareholders) are provided with some degree of limited liability.
As a legal entity a corporation can enter into contracts, bring law suits against others and have lawsuits brought against it.
In general, the shareholders of a corporation are only at risk (can only lose) what they have put into the corporation. In most states it is difficult to “pierce the corporate veil” of a corporation to get to the assets of its shareholders.
Corporations are a valuable and necessary creation because they encourage people to develop new products, processes, services etc. without fear of losing all of their personal wealth if they otherwise act reasonably but something goes wrong.
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