Glossary
Professional Corporation
A professional corporation is a corporation through which a regulated professional — a physician, lawyer, dentist, or accountant, for example — carries on their practice. It must satisfy both ordinary corporate law and the rules of the professional's regulator, which often limits who may own shares. Incorporating can open up tax planning advantages, but it does not shield the professional from liability for their own professional conduct. Eligibility and setup vary by profession and province, as we explain in our guide to the professional corporation in Alberta.
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