Q:

What does "inc." mean?

A:

Quick Answer

A company with a name that ends in "inc." is incorporated, giving its owners, officers and investors specific legal advantages. Essentially, these key people in the business have no personal liability in the event that the business fails or assets are seized due to mismanagement or unpaid debts.

Know More
What does "inc." mean?
Credit: Multi-Bits The Image Bank Getty Images

Full Answer

To incorporate a business, all that is needed is a certificate of incorporation, which must be signed by at least one incorporator. The other necessary items are the corporation name, its purpose, and its proposed corporation lifespan. There are different types of corporation choices, including S-Corp, LLC and C-Corp. All have unique advantages and disadvantages.

Sources:

  1. sba.gov

Is this answer helpful?

Similar Questions

  • Q:

    What is a managing member of an LLC?

    A:

    All of the owners of a limited liability company are called members, and a managing member of an LLC has the authority to make decisions on behalf of the company. All members have this authority by default in most states, unless the members choose to relinquish their authority to a professional manager. The manager may also be a member, but could be a company instead.

    Full Answer >
    Filed Under:
  • Q:

    What is the definition of an "unlimited company"?

    A:

    An unlimited company is a firm in which the owners of the company accept unlimited liability for its financial obligations. This is also known as an unlimited liability company.

    Full Answer >
    Filed Under:
  • Q:

    What was Enron's mission statement?

    A:

    Enron incorporated their mission statement into a web page on Enron.com titled, "Our Vision, Our Values." The full page statement on the company's web site from the year 2000 included information under the categories of our markets, innovation, creativity, diversity, customers, environment, change, together, respect, integrity, communication and excellence.

    Full Answer >
    Filed Under:
  • Q:

    What does the abbreviation "Ltd." mean in a company name?

    A:

    "Ltd." is an abbreviation for "limited." When used after a business name, it indicates that the owners and shareholders of the business only have limited responsibility for the company's debts and obligations.

    Full Answer >
    Filed Under:

Explore