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.
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.