What is the major difference between a corporation and other kinds of businesses?

Brock Hladik: 5. Different tax liabilities for corporations.6. Different requirements to register a company.7. Different companies are responsible to shareholders as opposed to LLC, LP or sole proprietorships.8. A corporation can sue and be sued.9. Sarbanes Oxley applies to some corporations and not other business organizations....Show more

Becky Mosena: at the start, a company is owned by skill of its shareholders. it would desire to be very great, even though it relatively is small. a company is often accountable for its debts, only because it salary if it makes money. the different varieties of businesses are sole proprietorships (owned by skill of one man or woman), and partnerships (owned by skill of the companions). we can't even get into limited Partnerships or LLCs (limited legal duty businesses).