September 25, 2017

Incorporation

Incorporating your business in Rhode Island is a great way to protect your personal assets from company liabilities such as creditors or lawsuits. In fact, many people incorporate for this reason alone. But that’s not the only advantage.

The corporate business structure also saves you money in taxes, provides greater business flexibility and makes it easier to seek outside investment.

Our RI incorporation service is reviewed and prepared by attorneys. We can help you incorporate your business in Rhode Island in 3 simple steps.

GET STARTED on your RI Incorporation today !

More about Rhode Island Incorporation documents

A corporation is a separate and distinct legal entity. This means that a corporation can open a bank account, own property and do business, all under its own name. A corporation is managed by a board of directors, which is responsible for making major business decisions and overseeing the general affairs of the corporation. Like representatives in Congress, directors are elected by the stockholders of the corporation. Officers, who run the day-to-day operations of the corporation, are appointed by the directors.

 

The primary advantage of a corporation is that its owners, known as stockholders or shareholders, are not personally liable for the debts and liabilities of the corporation. For example, if a corporation gets sued and is forced into bankruptcy, the owners will not be required to pay the debt with their own money. If the assets of the corporation are not enough to cover the debts, the creditors cannot go after the stockholders, directors or officers of the corporation to recover any shortfall.

 

Have More Questions ?

Contact the RI business formation attorneys at the Rhode Island law firm of Bardorf & Bardorf with any questions regarding the business formation or appropriate business structure for your RI business.