Incorporation offers limited liability protection, which means shareholders’ personal assets are protected if the company incurs debt or is sued. This type of business can be more complex and costly to establish and maintain, as it requires adhering to more regulations, filing paperwork like ...
Limited liability company (LLC):As the name suggests, LLCs come with limited liability. Owners (called members) are not personally liable for the business’s debts and obligations, and their personal assets are generally protected. LLCs offer stronger risk management options than unincorporated struc...