Organized and maintained as a legal corporation...<br />
As in "an incorporated town" or "the ideas incorporated in his revised manusc<x>ript"
When a business becomes incorporated, a separate and distinct legal entity is created. An incorporated business acts independently of its business owners.
With out a body or soul. is a legal construct that belittles us. We should be responsible, but sadly we hide behind "law" silly when we do not seek morals and settle for random edicts
No it just means the company has the legal status as a Cooperation. Simply stated it means the shareholders can not be sued or held accountable for any damage the company does. People who have legal grievances against that company can only sue the company, once they have wiped out the companies capital then that’s it they are out of luck. Same goes if the company goes belly up and creditors come around looking for the money they loaned the company.
Maybe, maybe not, it all depends on who's asking