What is a Corporation and what are the benefits of a Corporation?

Similar to a partnership, or PC, a Corporation is regarded as a separate and distinct entity from its owners, which are called “shareholders”. You may be wondering, what does that mean? That means that the Corporation can enter into contractual agreements independently, can own property or land independently, and conduct business solely under the corporate umbrella.

If you are considering forming a Corporation, there are many benefits to choosing this type of entity. Most importantly, the shareholders, directors, and officers that make up the corporation are not personally responsible for any of the corporation’s debts or liabilities. Further, if the corporation experiences any losses, the burden of those losses lies with the corporation’s own resources, and not the personal assets of the shareholders. It is important to note here, that the protections offered by any type of business entity, whether it be an PC, a Limited Liability Partnership, or a Corporation, could be lost if business is not conducted in the intended way. Essentially this means that you should not treat your Corporation, PC, or LLP as though it was your personal bank account, otherwise you face the possibility of the protection that these entities afford, to be lost, and thus allowing your personal assets to be attacked.

The Spring business attorneys at Garg & Associates will meet and consult with each client individually, discuss their business strategies, and arrive at a solution that best suits their needs. If you need a skilled business attorney, you owe it to yourself and to your business to consult with attorneys who have your best interests as their top priority. The Garg & Associates attorneys proudly serve all of North Houston and are simple a phone call away.

Please contact our office to see how we can assist you. Learn more about our Areas of Practice.

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Garg & Associates, PC | 21 Waterway Avenue, Suite 300 | The Woodlands, Texas 77380 Please call 281-362-2865 | Fax: 866-743-4506
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Land, River Oaks, Alief, Stafford, Missouri City, and Southwest Houston Texas.