why is corporation is important in our life
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Answer:
you are just starting a corporation, once you’ve submitted your Articles of Incorporation, it’s time to assign the various roles within your company. Most corporations have a standard group of important stakeholders who help make decisions about the scope and direction of the corporation. Unlike some other types of corporate structures, a corporation has a team of individuals who work together to help drive the organization to its highest potential.
Within a corporation, the main people of importance are the board of directions, the corporate officers and finally, the shareholders. Each group of individuals has a particular purpose and job within the company. As your corporation begins to take shape, you can appoint the most talented and knowledgeable individuals to these roles in order to give your business the best advantage as it begins.
One of the most important reasons why corporations are formed is for liability reasons. Corporations provide stockholders with limited liability. What that means is that if the corporation is sued, the stockholder would not be held personally liable for any damages.