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Alani and Jeremy have considered creating their own company but are concerned about the possibility of losing all of their personal assets if the business fails. One way for Alani and Jeremy to avoid this risk would be to organize their firm as a
corporation.

Sagot :

One way for Alani and Jeremy to avoid the risk of of losing all of their personal assets would be to organize their firm as a corporation..

Give a brief account on corporation.

An organization that is permitted by the state to act as a single entity and is recognized as such in law for specific purposes is known as a corporation. This organization is typically a company or group of persons. Early corporations were established by charters (For example, by a special act enacted by a legislative or a parliament). New corporations can now be established by registration in the majority of jurisdictions. Although there are many different types of companies, they are sometimes divided into two categories by the law of the nation in which they were founded based on either their ability to issue stock or if they were founded with the aim of making a profit.

A corporation can be categorized as aggregate (the subject of this article) or sole depending on how many owners it has (a legal entity consisting of a single incorporated office occupied by a single natural person). Limited liability was one of the most alluring early benefits that business corporations offered to their investors in comparison to earlier business entities like sole proprietorships and joint partnerships.

To know more about, corporation, visit :

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