The Advantages and Disadvantages of Incorporating a Business In order to mention all the advantages and disadvantages of incorporating a business, first I should try to explain what a corporation is. In 1819, Chief Justice Marshall of the United States Supreme court said: " A corporation is an artificial being, invisible, intangible, and existing only in contemplation of the law." In the Webster's College Dictionary corporation is defined as "an association of individuals, created by law and having an existence apart from that of its members as well as distinct and inherent powers