A professional corporation (abbreviated as PC), also known as a professional service corporation (abbreviated as PSC), is a type of corporation established by state statute that permits owners of certain licensed professions, such as attorneys, architects, engineers, accountants, and dentists, to own shares in a corporation organized to render services in that profession. An owner of a professional corporation remains liable for their own negligence or malpractice, but will not be personally liable for the negligence or malpractice of other owners. Professional corporations are commonly identified by adding "PC" or "P.C." to the end of their name.
[Last updated in April of 2022 by the Wex Definitions Team]