professional corporation

   A corporation that is formed to conduct a profession that requires a license to practice (e.g., attorneys, doctors, dentists, certified public accountants, architects, real estate brokers). Unlike a regular corporation, a professional corporation does not protect a professional person against liability for his or her own negligence or malpractice. Unlike general partners, however, the owners of a professional corporation are not personally liable for the malpractice of other owners. In some states, limited liability partnerships offer this same benefit.

Business law dictionary. 2015.

Look at other dictionaries:

  • Professional corporation — Professional corporations (abbreviated as PC or P.C.) are those corporate entities for which many corporation statutes make special provision, regulating the use of the corporate form by licensed professionals such as attorneys, architects, and… …   Wikipedia

  • professional corporation — see corporation Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. professional corporation …   Law dictionary

  • professional corporation — n a corporation organized by one or more licensed individuals (as a doctor, dentist, or physical therapist) esp. for the purpose of providing professional services and obtaining tax advantages abbr. PC …   Medical dictionary

  • professional corporation — noun : a corporation organized by one or more licensed individuals (as a doctor, lawyer, dentist, or physical therapist) especially for the purpose of providing professional services and obtaining tax advantages * * * a corporation formed by one… …   Useful english dictionary

  • professional corporation — noun Date: 1970 a corporation organized by one or more licensed individuals (as a doctor or lawyer) especially for the purpose of providing professional services and obtaining tax advantages …   New Collegiate Dictionary

  • professional corporation — A corporation formed for the purpose of practicing a profession. 18 Am J2d Corp §§ 31, 32. As a general rule a corporation cannot lawfully engage in the practice of law, or in the practice of medicine, surgery, or dentistry. Some statutes,… …   Ballentine's law dictionary

  • professional corporation — a corporation formed by one or more licensed practitioners, esp. medical or legal, to operate their practices on a corporate plan. Abbr.: PC, P.C. [1965 70] * * * …   Universalium

  • professional corporation — profes′sional corpora′tion n. ecn a corporation formed esp. by licensed medical or legal professionals to operate their practices on a corporate plan Abbr.: PC 4) P.C • Etymology: 1965–70 …   From formal English to slang

  • corporation — cor·po·ra·tion /ˌkȯr pə rā shən/ n [Late Latin corporatio, from Latin corporare to form into a body, from corpor corpus body]: an invisible, intangible, artificial creation of the law existing as a voluntary chartered association of individuals… …   Law dictionary

  • professional — I (stellar) adjective admirable, businesslike, choice, commendable, excellent, exemplary, foremost, highest quality, illustrious, incomparable, laudable, model, paramount, praiseworthy, preeminent, prime, principal, sterling, superb, superior,… …   Law dictionary

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.