Compare corporation and incorporation.

The major differences between corporation and incorporation are as follows −

It’s an entity to run a business.First process in registration as corporation.
It is termed as CORP.It is termed as INC.
Second stage of business.Takes place incorporation register process.
Holds liabilities on personal assets.Limited liability.
Outcome of incorporation process.Should follow legal process.
Don’t get funds for company.Act as pool to get funds.
Relates to day to day activities of business.Safeguards the interests and personal assets of owners/shareholders.
Will have almost same functioning, features and goals.Process differ from country to country.
Formed to carry out specific operations.Helps entity to become a corporation by series of steps.

Updated on: 25-Sep-2020


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