What does INC mean in business?
Wondering what INC means in business? You see you at the end of company names such as Apple, Inc and want to know exactly what does this abbreviation mean about the business.
The abbreviation INC means incorporated. In the UK they use LTD instead of INC. The abbreviation Inc. is used for both traditional C corporations and S corporations.
An incorporated business is a legal entity. This entity is recognized, just as a person would be as an individual, for business purposes under the law. This corporation could be a commercial business, a nonprofit charity, a government, city or town or club organization.
Because the Corporation is an entirely separate legal entity from the people who founded the company it will survive beyond the life of the stockholders or any owners who leave the company.
When a business incorporates it creates shares which are sometimes called stock. These stock shares represent ownership of the company.
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