Professional Corporations (PC)
Professional corporations can be utilized by one or more business owners and usually apply only to designated professions. Typically, limited liability is applicable to third parties, but not clients of the professional, with any remaining client liability preferably covered by professional liability insurance. This option is usually chosen to obtain the tax benefits of incorporation or where a LLP is not available because there are no partners of the business. This is a regulated form of business structure and should not be attempted without legal advice.