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Professional Corporation

Professional corporations are those corporate entities for which many corporation statutes make special provisions to regulate the use of the corporate form by licensed professionals such as attorneys, architects, engineers, public accountants, and doctors. Legal regulations applying to professional corporations typically differ in important ways from those applying to other corporations.

Professional corporations, which may have a single director or multiple directors, do not usually afford that person or persons the same degree of limitation of liability as ordinary business corporations (see LLP). Such corporations must identify themselves as professional corporations by including “PC” or “P.C.” after the firm’s name. Professional corporations often exist as part of a larger, more complicated, legal entity. For example, a law firm or medical practice might be organized as a partnership of several or many professional corporations.