Advantages for forming an incorporated company:

• The separate legal entity. The company is distinct from its members.
• The property of the company belongs to the company and not that of the members.
• Perpetual succession. The death of a member/shareholder of the company cannot affect the company’s continued existence.
• Limited liability. When a member has fully honoured the payment of his shares, he cannot be called upon to pay anything more towards the company’s liability.
• Suing and being sued. As a legal person, a company acquires the right to sue and be sued.