Updated: Oct 7
Incorporation has many advantages for the business;
1. The company can buy, sell and hold property in its own name.
2. The company can sue and get sued in the law of court without personal involvement of directors.
3. Ownership of the company is easily transferable.
4. There is no liability of its member as it is a separate entity.
5. The company has a common sealIt provides perpetual succession to the company.
6. This means it continues in the long run and death of any director does not affect the running of the business.
7. It provides benefit on the taxation front as individuals pay income tax and companies avail the benefit of corporate taxes