Monday, May 17, 2010

Professional Corporation

The Professional Corporations (PCs) are these entities of corporation for which many act of company make the special provision, regulating the use of the corporate form by licensed professionals such as attorneys, architects, engineers, accountants and doctors. A professional corporation is a corporation that is formed for the purpose of providing a professional service that by law a for-profit or nonprofit corporation is prohibited from rendering. A "professional service" means any type of service that requires, as a condition precedent to the rendering of the service, the obtaining of a license in the state.

The legal payments applying to the professional-companies differ typically from the important manners of those which apply to other companies. The professional orders, which can have a simple director or multiple directors, do not have the means usually this person or people the same degree of limitation of responsibility as for the ordinary companies of businesses. The Professional-companies often exist as an element of larger, more complicated, legal entity.

To Read More: Professional Corporation

Source: Business Document Filing in All 50 States.

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