| A corporation is the biggest type of business entity. So | | | | business. The mechanics involve in the creation of a |
| how does one creates one of these giants? But first it | | | | corporation is termed as Articles of Incorporation and |
| is important to define the term CORPORATION- a | | | | there is also a fee to be paid. The start of creating a |
| corporation is an artificial legal entity which is chartered | | | | corporation is with the filing of the Article of |
| by a state and formed to conduct business. A | | | | Incorporation and then the payment of the required fee |
| corporation is completely a distinct and separate entity | | | | to the state office or the office of the Corporation |
| from its owners, it has its own life and can be held | | | | Commissioner. This process is common to the |
| liable for any debts that it may incur. A corporation is | | | | standard type of corporation however the same |
| also required by law to pay its own taxes. | | | | process occurs in both the limited liability company and |
| Every state has their own General Corporation Law | | | | the limited liability partnership since many of their |
| or Business Corporation Law that permits practically | | | | offered benefits are the same as those of the |
| anyone to acquire a charter in order to conduct a | | | | traditional corporation. |