BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -A corporation is legally a separate and distinct entity from its owners. Corporations possess many of the same legal rights and responsibilities as individuals. An important element of a corporation is limited liability, which means that its shareholders are not personally responsible for the company’s debts.

Detailed explanation-2: -A company is a separate legal entity, It is a separate entity from its members, directors, promoters, etc. The partners have Unlimited Liability in all the matters relating to Partnership Firm. The Shareholders and promoters have Limited liability to Capital of the company.

Detailed explanation-3: -A corporation makes your business a distinct entity. In other words, it separates your business assets from your personal assets. Worried because you are the only person in your company? That is just fine; one person or multiple people can own a corporation.

Detailed explanation-4: -The owners of a corporation are shareholders (also known as stockholders) who obtain interest in the business by purchasing shares of stock. Shareholders elect a board of directors, who are responsible for managing the corporation.

Detailed explanation-5: -Corporate Existence as used in this Section 5.4, means existence as a corporation under the law of any jurisdiction within the United States.