incorporated entities

Incorporated entities, such as corporations or limited liability companies (LLCs), are legal businesses that are separate from their owners. This means they can own assets, enter contracts, and be responsible for debts independently of the individuals who run them. Incorporation provides limited liability, protecting personal assets from business risks. It also allows for easier raising of capital, continuity if owners change, and potential tax benefits. Overall, incorporating a business provides structure and legal recognition, making it easier to operate in a competitive market.