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Incorporated

Definition - What does Incorporated mean?

A business is said to be incorporated after filing "Articles of Incorporation" and following any other requirements set forth by the state where the business will be incorporated. For a business to be incorporated, it is important that it has a unique name which should also contain the word "corporation" (or an abbreviation of the word) in it along with the business purpose.

Justipedia explains Incorporated

An incorporated business has a legal obligation to act and work in the best possible financial interest of its shareholders. This legal responsibility of a corporation towards its shareholders is called fiduciary duty. There are many forms of corporation including limited liability corporation (LLC).

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