If you want to open your own company, the first thing you should do is to decide what kind of legal structure your company is going to have. INC is one of the options. Would you be better structured as a limited company? The more you know, the clearer your options will be.
What is INC?
Incorporation is the formation of a new corporation (a corporation being a legal entity that is effectively recognized as a person under the law). The corporation may be a business, a non-profit organization, sports club, or a government of a new city or town. This article focuses on the process of incorporation; see also a corporation.
INC stands for Incorporating and when a company has the letters “Inc" after its name, it means the company has been incorporated.
Your company also can use:
Incorporated company means that the company formally designated itself as a corporation under the laws of at least one state. The incorporated company must follow all laws pertaining to corporations. Inc. means that the company is set up for success with a solid legal basis.
- Corp. - If a company uses it, then the company usually is incorporated, but may not be.
- LLC is an abbreviation that means the company is a limited liability company.
- Co. is an option that simply states the business is a company, and it may not be incorporated.
Incorporated company means that the company formally designated itself as a corporation under the laws of at least one state. The incorporated company must follow all laws pertaining to corporations. Inc. means that the company is set up for success with a solid legal basis.
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