Separate Entity Research Paper

264 Words2 Pages
Separate Entity
An incorporated business is a separate entity from its owner or shareholders. This means you'll need separate bank accounts and credit cards for your business. You may need to provide business identification -- rather than just personal identification -- when withdrawing money from the bank. You'll also sign business contracts as a representative of your business rather than as yourself. Some new business owners are accustomed to signing business contracts and documents as themselves, but if you continue to do this after you incorporate, these documents might not be legally binding or could leave all parties unclear about who is responsible for the document -- you or your business.
Limited Liability
Incorporation greatly limits
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