The Corporate form of ownership is a standard recommendation by most lawyers advising entrepreneurs interested in a technology startup. The corporate form of ownership provides an opportunity to limit personal liability, allocate ownership through equity distribution and, possibly, take advantage of favorable tax provisions for corporations in the Internal Revenue Code. There are various types of corporations that can be formed. Examples include limited liability corporations, not-for-profits, professional associations and many others. Since corporations are formed and empowered by state law, you have fifty jurisdictions to choose from in establishing your corporation. The Corporation Library provides support materials in the areas of incorporation (standard, for-profit), asset purchases and sales, stock distributions and financing activities involving notes and loans.
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