CORPORATION

Jenny Jean S. Lelis

 TYPES
Open Corporation
Private or Close
Corporation
 Corporation
ADVANTAGES
 Limited Liability
 Ease in raising capital
 Stability of Existence
 Specialized Management
DISADVANTAGES
• Difficult to Organize
• Strictly regulated and supervised
by the Government
• Formal and Impersonal
employer- employee relationship
 LEGAL REQUIREMENTS

 Articles of Incorporation and Bylaws

 Registration with SSS, BIR and DOLE
 Acquisition of a Business permit in the
City Hall
 License from Department of Trade and
Industry