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A professional corporation (PC) is a type of legal structure that is specifically designed for professionals in certain fields, such as doctors, lawyers, Accountants, and architects. It provides liability protection to its owners, known as shareholders, similar to a regular corporation. However, PCs are subject to additional regulations and restrictions that vary by jurisdiction and profession.
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∙ 15y agoA Professional Corporation, or P.C., following a company name indicates the structure of the corporation is that of licensed professionals. This is authorized by state law and includes a fairly narrow list of licensed professions such as doctors, lawyers, accountants, architects. Unlike a regular corporation, a professional corporation does not absolve a professional for personal liability for her own negligence or malpractice. The main reason why groups of professions choose this organizational structure is that, unlike a general partnership, owners are not personally liable for the malpractice of other owners. In some states, limited liability partnerships offer this same benefit and may be more desirable for other reasons.
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What does PC stand for after a business name?
PC or "P.C." stands for "Professional Corporation", a special form of corporation which retains some personal liability for the principals of the business. Ordinarily restricted to licensed professionals such as doctors, attorneys, and public accountants.
What does PC after a law firm name mean?
P.C. stands for professional corporation
Can a holding company purchase a professional corporation?
Yes a holding company can purchase a professional corporation. The professional corporation can be another entity of companies within the holding companies portfolio.
What does P C mean after a legal firms name?
Professional Corporation, indicating that those providing services are licensed to provide legal services.== == Professional Corporation
What does PC stand for after a corporation name?
professional corporation
WHAT IS A Solo professional corporation?
A solo professional corporation is a corporation operated with one person as the board of directors. This corporation is usually for an individual who wants to run a business solely.
What does the term 'professional corporation' refer to?
The term professional corporation refers to a corporation that is formed for the purpose of operating a profession that requires a license to practice. These include physicians, attorneys, and dentists.
What does PC mean after a dentist name?
i think it means private corporation, the type of business they have
What does PC after an attorneys name?
Professional corporation.
What is a PC as in a public accountant?
Professional Corporation
Does a Professional Corporation get a 1099 form?
Yes
What does apc mean for law firm?
Stands for 'A Professional Corporation', it means that the lawyer whose name comes before 'APC' practises as a professional corporation.
