Ease of transferring ownership rights-through stock sale. Continuous life-perpetual life is possible for a successful corporation. Stockholders are not corporate agents-they do not have the power to bind the corporation to contracts. Ease of capital accumulation-the advantages of the corporate form makes it easier for a corporation to raise large amounts of capital. Governmental regulation-must meet requirements of a state's incorporation laws.
Stockholders have ultimate control through vote to elect board of directors.
Board of directors has final managing authority, but it usually limits its actions to establishing broad policy.