As you have read in the text concerning the legal forms of
business ownership, the corporation avoids the concept of unlimited
liability. This means the owners (stockholders) are not liable for
the entire debts that the corporation incurs. The only amount of
money they can lose is the amount of their investment in the
company.
The Board-of-Directors and the Chief Executive Officer (CEO)
are the main group of people that are responsible for strategic
decisions that a corporation makes. This...