Incorporation is what happens when you form a new corporate firm. It can be for business for non profit. It’s a legal procedure and you get to choose a company name and logo. It has a lot of benefits. Your assets can be owned by public parties, and you have less personal liability. This reduces your own risk if someone were to ever sue you.
You can incorporate under four types. LLC which stands for Limited Liability Company. C corp, S corp and nonprofit corporation.
Usually people who incorporate have small or medium sized business. There are service providers who can help you to incorporate your business .They operate online, in person, or you can also hire a lawyer. Incorporating in Ontario has perks contrary to incorporating in Canada federally. There are advantages to both though.