An abbreviation for professional corporation, which is a special corporation established by professionals, such as physicians, accountants, or, in some states, attorneys, who practice together.
In most jurisdictions, a professional corporation may be organized by professionals who render a personal service to the public that requires a license and that, before proper statutory organization, could not be performed by a corporation.
One of the main reasons professionals incorporate is to gain certain tax benefits. Incorporation neither changes PROFESSIONAL RESPONSIBILITY nor protects those incorporating from liability for MALPRACTICE.
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