Every starting entrepreneur has to consider the business organization that will carry out the business he is about to establish. Considering that there are several ways by which a business may be organized, one has to at least be familiar, if not equipped with full working knowledge, as to the nature and characteristics of each of his options, and how it will affect the way he does business. Among the options that an entrepreneur may choose is to form a corporation, which is defined by law. Among the options that an entrepreneur may choose is to form a corporation, which is defined by law as an artificial being created by operation of law, having the right of succession and the powers, attributes, and properties expressly authorized by law or incidental to its existence (Sec. 2 of the Revised Corporation Code).