professional corporation

professional corporation definition - business

professional corporation

A legal entity that is formed to provide professional services such as law or medicine to the public. Shareholders of a professional corporation must normally be licensed in order to offer the services for which the corporation was formed. For example, shareholders of a legal professional corporation must be licensed attorneys.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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