When one incorporates, this means that the business is legally a separate entity from its owners, shielding them from any personal liability for business debts and obligations.

The limited liability for those involved in corporations is often considered the primary benefit of this legal structure. But this is not to say that protection is guaranteed in all cases; there are exceptions. For wrongs you personally commit, you could still be held liable.

Another aspect about incorporating is that the life of a corporation is not dependent on the lives of its members. So the corporation will continue to operate even if the owner or owners die or if they decide to sell their interests.