Corporations provide many benefits in terms of liability and taxation vs. a sole proprietorship.
Partners own a company known as a partnership. A corporation is owned by stockholders. A partnership may decide to become a corporation, giving stock to each of the people who were previously partners. The advantage of this is that partners have a personal liability while stockholders do not.
How does a company become a corporation?
I can only think of BMW used car dealers who are certified with the BMW corporation. After that, you would have to show for a used BMW like any other used vehicle.
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Albrecht von Goertz famously designed for the German based automobile corporation BMW. Goertz's most notable works were the designs of the BMW 503 and BMW 507 series.
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A corporation may become so large through mergers and acquisitions that it becomes a conglomerate
The equipment would become a fixed asset of the corporation.
People don't decide to become gay, they're born like that.
Mother Teresa did not decide to become a Catholic. She was born a Catholic.
A business becomes a corporation after filing paperwork with the government of the country the business is located in. Although the term "corporation" is usually used to refer to large businesses, a small business can become a corporation if it fills out the proper paperwork.
Before BMW acquired the Mini brand in 1994, it was owned by the British Motor Corporation (BMC) and later by the British Leyland Motor Corporation. The original Mini was launched in 1959 and became an iconic model under BMC. Over the years, ownership changed, and by the late 1980s, it was part of the Rover Group before BMW purchased it.