Quinsigamond Community College Corporation & Limited Liability Essay

This week you have one task, namely to understand the difference between a corporation (otherwise known as an “Inc.” and a Limited Liability Corporation (otherwise known as a “LLC”).  To that end you need to read Chapter 15 and  Chapter 16 pages 357 – 371 in the course text (Emerson, W.R.J.D. (2015). Business Law (Barron’s Business Review). Barron’s Educational Services; Sixth edition).

Assignment:

In form of  essay explain in detail:

1.  The advantages and disadvantages of a corporation (Inc.).

2. The advantages and disadvantages of a limited liability corporation (LLC).

3. Explain the major differenced between an Inc., and a LLC.

4. Explain what a “S” corporation is and how it is formed.