Name of the Professional Corporation
A professional corporation is a type of corporation that is specifically designed for professionals who are regulated by a governing body, such as doctors, lawyers, and accountants. The main purpose of a professional corporation is to allow these professionals to carry on their practice while limiting their personal liability.
Unlike a regular corporation, a professional corporation can only be owned by licensed professionals who are members of the same profession. For example, a law firm can only be owned by licensed lawyers.