Professional Corporation: Is It Right for Your Practice?

A professional corporation is a business structure that is authorized by states for a small list of licensed professionals such as doctors, lawyers, accountants, and some other types of health care providers. If you are starting a business but not one of these licensed professionals, then this type of structure is not for you. This structure does not limit personal liability for negligence or malpractice. The reason that professionals join together into such a structure is that they are not liable for the negligence or malpractice of other owners. Some states will allow the same protections through a limited liability partnership.

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