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What does it mean when a business
Is incorporated?

Can it be owned by one person or does it have to be more than one person?

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A business being incorporated means that it has been granted a contract legally recognizing it as a separate body having its own rights, privileges, and liabilities different from other businesses and persons. Incorporating a business offers advantages to the owners of the company in areas like personal asset protection.

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It means the operators of the business have chosen to operate as a corporation. It is a business structure that limits the liability of the shareholders or shareholder. Basically, it turns the business into an entity with legal rights. Here is some info from the Small Business Administration with more details about incorporation: http://community.sba.gov/community/blogs/expert-insight-and-news/small-business-matters/incorporation-right-your-business-primer-small-business-owners-an

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austinlinda
That's a really "big" question for a short reply. But as usual, you've ace'd it again, Sherry!

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