Professional Corporations
A professional corporation is formed in order to render services within one specific profession, subject to certain state exceptions, and must be formed pursuant to 15 Pa. Cons. Stat. § 2903 of the Pennsylvania Code. A professional corporation generally may not provide any other non-ancillary services.
The name of a professional corporation is restricted to the name or the last name of one or more of the present, prospective or former shareholders or of individual name or names that appeared in the name of the predecessor. The articles of incorporation for a professional corporation must contain a heading stating the name of the corporation and that it is a professional corporation.
Law firms, for example, may operate as professional corporations. In addition to meeting the requirements of Pennsylvania Business Corporation Law, law firms who elect to operate as Professional Corporations are also subject to and controlled by the rules and regulations of the Pennsylvania State Bar of Pennsylvania and the Supreme Court of Pennsylvania.
Doctors’ private practices are likewise eligible to be professional corporations because they render professional services within one specific profession, and may similarly be subject to additional oversight within the medical profession.
If you have questions about the advantages and benefits of choosing to operate your business as a professional corporation, the attorneys at the Scolieri-Beam Law Group, P.C. can help. Located in western Pennsylvania, our attorneys are experienced in Pennsylvania business law and can help you navigate regulations affecting your business. Contact us today at (412)765-0546 or info@scolierilaw.com.