Business partners Melinda and Joseph are discussing which legal structure to choose for their business. They are leaning toward creating a corporation. What is one advantage of a corporation for these partners?
One advantage of a corporation for Melinda and Joseph is limited liability. This means that their personal assets would be protected from the business's debts and liabilities. If the corporation were to face legal issues or financial problems, their personal investment or belongings would not be at risk beyond the amount they have invested in the corporation.
