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Compare corporation and incorporation.
The major differences between corporation and incorporation are as follows −
| Corporation | Incorporation |
|---|---|
| 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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