Answer to Question #214583 in American Law for Nosipho Pretty

Question

Advise on the advantages of the close corporation as a business form.

Answer 1

The advantages of close corporations include;

·        There are fewer formalities which must be followed in the close corporation structure. ...

·        The shareholders in a close corporation have greater control of share sales. ...

·        There are strong liability protections offered for shareholders. ...

·        There is more freedom of management.