professional corporation

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 reviewed in April of 2022 by the Wex Definitions Team ]

Keywords

• llcs-corporations-partnerships

Wex

• COMMERCE
• business law
• corporations
• wex definitions
• business sectors