Professional corporation
Professional corporation (also known by its acronym, PC) is a corporation that has most of the benefits of incorporation but the participants are not relieved of professional (malpractice) liability; known in some states as a professional association (PA).
Definitions
According to Financial Management Theory and Practice by Eugene F. Brigham and Michael C. Ehrhardt (13th edition),
- Professional corporation (PC). Has most of the benefits of incorporation but the participants are not relieved of professional (malpractice) liability; known in some states as a professional association (PA).
Related concepts
- Financial management. A combination of enterprise efforts undertaken in order to procure and utilize monetary resources of the enterprise.
