Advantages and Disadvantages of a 1 man corporation

Discussion in 'General Business' started by wazimm, Feb 11, 2008.

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  1. #1
    Hello folks,

    What are the advantages and disadvantages of a one-man or woman corporation?

    Can a one-man corporation get the full advantages of incorporating?
    __________________
     
    wazimm, Feb 11, 2008 IP
  2. kozyavka

    kozyavka Active Member

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    #2
    you'd better talk to somebody from your state, each state has its own regulations (unless you'll go with Delaware)
     
    kozyavka, Feb 11, 2008 IP
  3. kush86

    kush86 Well-Known Member

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    #3
    Yes.

    If you only going to keep it a one man corporation, make it a S-Corp. I am not a lawyer.

    We live near each other, pm me. I know the perfect thing to solve your program.
     
    kush86, Feb 11, 2008 IP
  4. Game Producer

    Game Producer Well-Known Member

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    #4
    I think the imago can be a key thing:

    PROS: one-man band gets certain respect of being "the lonely wolf"

    CONS: it's pretty tough for a one-man company to get big deals with large companies (since they don't deal with companies that have few employees)
     
    Game Producer, Feb 11, 2008 IP
  5. bluegill_catcher

    bluegill_catcher Active Member

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    #5
    What would happen to the function of the corporation if the 1 man owner was in the Intensive Care Unit of a Hospital for 30 days hooked to tubes etc....... or if he was killed........ is the corporation dead also......
     
    bluegill_catcher, Feb 12, 2008 IP
  6. phpgeek

    phpgeek Banned

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    #6
    The responsibilities are greater when it is one-man corporation.
     
    phpgeek, Feb 12, 2008 IP
  7. mattaw101

    mattaw101 Peon

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    #7
    This is simple, instead of looking for free advice, consult your lawyer, he/she knows all the advantages and disadvantages and would be happy to share them with you.
     
    mattaw101, Feb 12, 2008 IP