CompanyAnywhere.com
Title
Company Formation in India, Incorporation of Company
Description
Therefore, when one's business corporation is sued, there are provisions in the law to protect owners (shareholders) and officers of that business corporation from personal liability (i.e. loss of one's personal home, car, bank accounts, etc.).
A company is an incorporated entity and once registered under the relevant Act of each country, it has legal personality. It is different from a business firm and usually has the words 'Pte Ltd' or 'Ltd' as part of its name. Any person wishing to incorporate a company is advised to engage a professional, e.g. a lawyer or an accountant to assist him in the preparation and filing of the necessary forms for incorporation.
A corporation is a separate person from the one or ones who own it. Therefore, when a corporation is sued, there are provisions in the law to protect the owners (shareholders) and mangers (officers and directors) from personal liability. Once you do business with the public or have even one employee, you are wide open to legal liability. A corporation can provide a legal shield between your business life and your personal life.
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