A partnership has the component of never-ending presence. It isn't reliant upon the life of its shareholders, directors, and officers and won't be influenced by changes in, deaths or retirements of its shareholders since the corporation is viewed as a different "individual". This preferred standpoint takes into consideration the efficient exchange of ownership (i.e., its shares). Due to its autonomous legal status, it might possess property in its own right, go into contracts and sue (or be sued).
A company may offer more sources of raising capital than different business formations, (for example, sole proprietorships and partnerships). Corporations can issue different classes of shares as well as other debt instruments such as bonds, to raise capital, which is more alluring to investors.
Corporations offer great tax advantages such as lower income tax rates and a corporation can carry forward operating losses of previous years to offset operating profits in current years.
Credibility and Prestige
Incorporating gives your business credibility and prestige in its business dealings.