Introduction to entrepreneurship/IENT102/Legalities/Corporation



An independent legal entity owned by shareholders is generally called a corporation or a company. A corporation is very different in structure to a sole proprietorship or a partnership. Shareholders decide on how the corporation is run and who manages it. Corporations are more complex and may include more people in the decision-making process.

Read the section on Privately-Held Corporation in [[media:Business ownership comparison.pdf|Forms of Business Ownership]] to find out more about this form of business ownership and its pros and cons. You may find it helpful to complete the self-reflection questions at the end of the reading.