Slide 11-3 Why businesses incorporate Stockholders have no personal liability Transferability of Privately, or ownership. Closely Held Professional Q000 management Continuity of existence Publicly Held Irwin/McGraw-Hill ?The McGraw-Hill Companies, Inc., 1999?The McGraw-Hill Companies, Inc., 1999 Slide 11-3 Irwin/McGraw-Hill Why Businesses Incorporate Stockholders have no personal liability. Privately, or Closely Held Publicly Held Transferability of ownership. Professional management. Continuity of existence